What method is used to value the personal property?
Like real estate, all personal property must be assessed at fair cash value. Generally, personal property is usually valued by the cost method, taking into account quality, age and condition.

Massachusetts prescribes no specific depreciation tables, either by statute or regulation. Property in use is considered to have some residual value, even if it has exceeded its useful life. The exact amount of depreciation and residual value is dependent on the specifics of the property and its use.

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1. To whom is the tax assessed?
2. Who is required to file a personal property report known as the form of list?
3. When should I file the form of list?
4. Where can I get the form of list?
5. What do the assessors do with the form of list?
6. What happens if I don't file a form of list?
7. Is the form of list a public document?
8. What is meant by type of ownership?
9. How does the type of ownership affect the form of list?
10. What method is used to value the personal property?
11. Is machinery taxable?
12. What is considered machinery for personal property purposes?
13. What is machinery "used in the conduct of business?"
14. What is manufacturing?
15. How does a corporation become classified as a manufacturer?
16. Is any personal property exempt?
17. Is there an abatement process for personal property?
18. I bought my business equipment at a yard sale. Isn't the taxable value the price I paid for it?
19. The stereo system at my shop is mine from home. Is it taxable personal property?
20. The power tools I use in my shop are owned by the building owner. Why am I being taxed for them?
21. The coffee machine in my store is leased. Should I be taxed?