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What is personal property tax? Do I qualify for a personal property tax deduction?

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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


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