What type of property is subjected to personal property tax regulations?

Personal property tax regulations specifically apply to personal property, which generally refers to movable assets not attached to a particular location. This includes items such as vehicles, machinery, equipment, and furniture. Unlike real property, which includes land and buildings, personal property can be easily relocated.

In the context of taxation, personal property tax is levied on these movable assets, distinguishing it from real estate taxes that are imposed on residential and commercial properties. The other types of properties—residential and commercial—are primarily assessed under real property tax regulations, not personal property taxes. Therefore, personal property is specifically the category that falls under personal property tax laws.