personal property

noun

Definition of personal property

: property other than real property consisting of things temporary or movable : chattels

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Examples of personal property in a Sentence

any personal property that is left in the lockers overnight will be impounded

Recent Examples on the Web

Conversion and trespass to chattels concern a defendant intentionally interfering, destroying or damaging the defendant’s personal property. — Michael Mccann, SI.com, "Should the NCAA Be Worried About the Lawsuit It's Facing From Former Louisville Players?," 12 July 2018 The crew made off with a phone, a car and personal property. — Joshua Sharpe, ajc, "DeKalb gangster gets 8 years prison in deadly home invasion," 30 June 2018 FreshPoint would lease the land from the state, but rent and taxes on personal property — totaling about $400,000 a year — would be paid to the city of Hartford, CRDA said. — Kenneth R. Gosselin, courant.com, "FreshPoint Wins Endorsement To Develop Land At Regional Market In Hartford's South Meadows," 28 June 2018 Opposition at the Statehouse Jim Irvine, president of the pro-gun Buckeye Firearms Association, said he is concerned generally about laws that allow guns or other personal property to be taken away without due process. — Jackie Borchardt, cleveland.com, "Democratic lawmakers propose 'red flag' gun law for Ohio," 21 Mar. 2018 Michigan Fire Marshal Kevin Sehlmeyer offers tips to people who plan to buy and use fireworks during the next several days: Find an open area on your personal property to set off fireworks. — Christina Hall, Detroit Free Press, "Fireworks tips for 4th of July festivities," 3 July 2018 Both the Bel Air real and personal property tax rates have been unchanged since the 2014 fiscal year, Bane said. — Allan Vought, The Aegis, "Bel Air's final budget set at $16.6 million, tax rates unchanged," 25 May 2018 The 32 mill cap for motor vehicles was rescinded by legislative action so a single mill rate of 37.92 will be the same for real estate, personal property and motor vehicles. — Peter Marteka, Courant Community, "South Windsor Council Approves $118.3 Million Budget," 8 May 2018 The agreement also waives a sizable percentage of Crop One Holdings' personal property taxes during the same period. — Matthew Ormseth, courant.com, "Hartford Council Approves Sale Of Blighted North End Property, Tax Agreement For Hydroponics Company," 10 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'personal property.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

18 Sep 2018

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The first known use of personal property was in 1833

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More Definitions for personal property

personal property

noun

Financial Definition of personal property

What It Is

Personal property is a class of property that can be moved from one location to another.

How It Works

Generally, real property is a class of property that cannot be moved. It includes land and buildings, for example. Personal property typically includes furniture, fixtures, tools, vehicles, and machinery and equipment. All of these items can be moved.

Why It Matters

Many states impose a personal property tax on individual and business personal property. These personal property taxes are particularly important to consider, especially when comparing state corporate tax rates. Some states offset their low corporate tax rates and even low real estate tax rates with higher personal property taxes. As a result, it is important to consider the whole tax bill when evaluating state tax rates.

Source: Investing Answers

personal property