Business Personal Property Tax is a property tax on the furniture, fixtures and equipment that are owned and used to operate a business. Inventory, land and building should not be included.
What is considered personal property in SC?
It shall include all land on which personal property is located including but not limited to the following: parking lots, manufacturing areas, buildings, landscaping, piping, railroad siding, docking, water sheds, ditching, pollution control facilities, pumping stations, wells, roads, water tanks, areas for ingress and …
What is an example of personal property taxes?
Personal property taxes are taxes imposed based on the value of personal property that is “movable.” For example, personal property can include automobiles, RVs, boats, mobile homes, office equipment, or machinery.
What is tangible personal property in SC?
Tangible Personal Property is everything other than real estate used in a business. It includes furniture, fixtures, tools, machinery, household appliances, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business or to earn income.
Is a mobile home real property in SC?
Mobile homes are taxed as real property when they are affixed to real property in accordance with the required installation standards and when wheels, axles, and towing hitch are removed. Otherwise, they are taxed as personal property.
What are examples of personal property?
Everything you own, aside from real property, is considered personal property. This includes material goods such as all of your clothing, any jewelry, all of your household goods and furnishings, and anything else that is movable and not permanently attached to a fixed location such as your home.
Is a house personal property?
Personal property refers to the items that people own such as furniture, appliances, or electronics. … Personal property can be intangible, as in the case of stocks and bonds, or tangible, such as clothes or artwork. Like real property, such as a house, loans can be secured by personal property.
What is personal property return?
If you own this type of property, the county requires you to file an annual tax return to report the tax you owe. … Each state, or even each local jurisdiction such as a county, will have its own specific form you must fill out to report your personal property tax.
What does business personal property mean?
Business personal property ( BPP ) refers to movable items owned by your business. It includes office supplies, furniture, computers, machinery – basically everything except for the building itself.
What is Horry County personal property tax?
Real and personal property are assessed at 9.5%. Utilities real and personal property at 10.5% Manufacturing real and personal property at 10.5% Personal property – automobiles and campers are assessed at 6%
How are mobile homes taxed in SC?
► Property Taxes – In South Carolina, mobile homes are taxed and assessed as real property. Therefore, whether the mobile home is being actively used as a residence or abandoned and in poor condition, the mobile home will remain on the tax roll. Mobile homes are NOT assessed, taxed and regulated the same as vehicles.
Why are there so many mobile homes in South Carolina?
South Carolina’s population growth and reliance on manufactured homes are reasons for another high national ranking — the number of housing units added in 2000.
How old can a mobile home be to move it in SC?
Some moving companies may enforce a policy where they do not move any mobile home over 20 years old, whereas some companies may have no limit as long as the structure is sound for transport.