Tangible Personal Property Tax
What is tangible personal property tax?
Tangible personal property tax is an annual tax on furniture, fixtures, and equipment used in businesses. It also applies to structural additions to mobile homes not taxed as real property.
Which offices are involved?
- Tax Collector: Collects tangible personal property tax.
- Property Appraiser: Handles changes to name, address, location, and assessed value.
How is my tax calculated?
Your tangible personal property tax is based on:
- Taxable value – Established by the Property Appraiser.
- Millage rate – Set by the Board of County Commissioners, School Board, City Council, and other taxing authorities.
The millage rate is calculated per $1,000 of property value. One mill equals $1 of tax for every $1,000 of taxable value.
When are taxes assessed and due?
- Assessed: January 1 of each year.
- Due: Tangible Personal Property Tax become payable November 1st and are due in full by March 31st of the following year.
- Delinquent: April 1 of the following year.
Important: All property owners have the responsibility to know the amount of tax due and to pay the taxes before April 1 of the following year.
Need more information?
Visit the Hillsborough County Property Appraiser’s website for more information on tangible personal property taxes.