What is the difference between real property and personal property?
Personal property, such as automobiles, trucks, trailers, mobile homes, airplanes, boats, etc., is listed and appraised every year at its true value in money. Because real property and personal property are appraised at different levels throughout the eight year cycle, personal property owners could see a direct effect on the amount of taxes they will pay after revaluation.

If the tax rate does not increase, then taxes levied on personal property generally decrease while taxes levied against real property generally increase. However, each year after a revaluation goes into effect, personal property begins to absorb more and more of the tax burden because the real property value remains fixed, and the personal property value is always at 100%. With an eight year revaluation cycle, this difference is considerably more noticeable.

Show All Answers

1. How is my property value determined?
2. What purpose does reappraisal serve?
3. What is the difference between real property and personal property?
4. When will the new values come into affect?
5. What if I do not agree with my property value?
6. What documentation would be helpful if I appeal?
7. What if I am still not satisfied?
8. What if I have more questions or would like someone from Revaluation or the Tax Office to speak to our group?