Knowledge Base

Tools employed by a plumber, carpenter, auto mechanic and other trade professionals are exempt from personal property tax. This covers "tools of trade". Tools of other professionals not listed in above paragraph are, however, considered taxable: dentists drills and x-ray machines, computers, but in cases where they are used for internal use only (e.g., internal accounting or administrative operations), computers are not subject to taxation. Tangible personal property subject to some other type of local tax is also exempt from the personal property tax (motor vehicle and trailer, ship and boat, the farm animal and equipment excise, mobile home park license fees). Intangible personal property is exempt from the personal property tax (stocks, bonds and cash, mortgages and other evidence of ownership of property rights).