What is Personal Property?

Personal Property is the tangible and intangible property used, or held for use, in a business.

"Business" includes

  • Partnerships
  • Corporations
  • Other business associations not issuing stock, and
  • Individuals operating for profit as a business or profession in Shelby County Tennessee.

There are 10 groups of Tangible Personal Property:

Group 1
Furniture, Fixtures, General Equipment, and all other Property not listed in any other Group.

Group 2
Computers, Copiers, Fax Machines, Peripherals, and Small tools.

Group 3
Molds, Dies, and Jigs

Group 4
Aircraft, Towers, and Boats

Group 5
Manufacturing Machinery

Group 6
Billboards, Tanks, and Pipelines

Group 7
Scrap Properties

Group 8
Raw Materials and Supplies

Group 9
Vehicles

Group 10
Construction-in-Process