Question
What is personal property tax? Do I qualify for a personal property tax deduction?
Answer
Personal property tax is an excise tax based on the value of the items that are mobile, such as vehicles and boats. You may qualify for a personal property tax deduction on your state and local taxes if the tax meets all of these requirements:
- In proportion to the value of the property
- Imposed on an annual basis, even if collected more or less than once per year
- Imposed on personal property
Related Resources
Disaster Tax Relief
Learn more about IRS disaster tax relief and other natural disaster tax tips from the experts at H&R Block.
Advantages of e-filing
Learn more about the benefits of e-filing your tax return with help from the tax pros at H&R Block.
What Is the Joint Return Test?
Trying to determine if you can be claimed as a dependent? Learn more about the joint return and dependent taxpayer tests with the experts at H&R Block.
Where to Get Help with Taxes in Spanish
There are many places to get help when it comes to taxes. Check out these resources from H&R Block for those needing help with taxes in Spanish.