Brian and Sondra own a very successful Cajun restaurant. They recently built their own building and own all of the decorations in the restaurant, along with the equipment needed to run the business. They will pay real property taxes on the building and land and personal property taxes on the decorations and equipment.

Question

Quizplus · Accepted Answer

Real property taxes are paid on land and buildings, while personal property taxes are paid on movable objects such as equipment and decorations. Since Brian and Sondra own both the building/land and the decorations/equipment for their restaurant, they will be responsible for paying both types of taxes.

Brian and Sondra Own a Very Successful Cajun Restaurant