Tangible property is only taxable in the state where its owner lives.

Name: Tangible property is only taxable in the state where its owner lives.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Tangible property such as real estate, vehicles, and personal belongings can be subject to property taxes in the state where they are located, regardless of where the owner lives. Therefore, tangible property is taxable in the state where it is located, not just where the owner lives.

Tangible Property Is Only Taxable in the State Where Its