New personal property definition

New personal property means personal property that was not previously subject to tax under this act or was not previously placed in service in this state and that is placed in an eligible district after a resolution under subsection (1) is approved. As used in this subdivision, for exemptions approved by the state treasurer under subsection (3) after April 30, 1999, new personal property does not include buildings described in section 14(6) and personal property described in section 8(h), (i), and (j). For exemptions subject to resolutions adopted under subsection (1) after December 31, 2014, new personal property does not include eligible manufacturing personal property.
Sample 1Sample 2Sample 3
New personal property means property that was initially placed in service in this state or outside of this state after December 31, 2012 or that was construction in progress on or after December 31, 2012 that had not been placed in service in this state or outside of this state before 2013.
Sample 1Sample 2Sample 3
New personal property means personal property that was not previously subject to tax under this act and that is placed in an eligible district after a resolution under subsection (1) is approved by the eligible local assessing district. As used in this subdivision, for exemptions approved by the state tax commission under subsection (3) after April 30, 1999, new personal property does not include buildings described in section 14(6) and personal property described in section 8(h), (i), and (j).
Sample 1Sample 2Sample 3

Examples of New personal property in a sentence

  • New personal property in a new improvement must have been brought into the taxing unit after Jan.

  • New personal property in a new improvement must have been brought into the school district after Jan.

  • New personal property in a new improvement must have been brought into the unit after January 1, 2016 and be located in a new improvement.

  • New personal property in a new improvement must have been brought into the unit after January 1, 2018 and be located in a new improvement.

  • New personal property in a new improvement must have been brought into the unit after January 1, 2017 and be located in a new improvement.

  • New personal property in a new improvement must have been brought into the unit after January 1, 2015 and be located in a new improvement.

  • Industrial processing does not include the generation, transmission, or distribution of electricity for sale.(f) "New personal property" means property that was initially placed in service in this state or outside of this state after December 31, 2012 or that was construction in progress on or after December 31, 2012 that had not been placed in service in this state or outside of this state before 2013.

  • New personal property in a new improvement must have been brought into the taxing unit after January 1, 2016 and be located in a new improvement.

  • New personal property in a new improvement must have been brought into the taxing unit after January 1, 2018 and be located in a new improvement.

  • New personal property in a new improvement must have been brought into the taxing unit after January 1, 2017 and be located in a new improvement.


More Definitions of New personal property

New personal property is defined in the act to means property that (1) was not, before January 1, 2013, subject to or exempt from taxation and was not in use or placed in service in the state; (2) before January 1, 2013, was not in use or placed services outside of the state; and (3) was initially purchased from a vendor or new property after December 31, 2012. The bill, instead, defines "new personal property" to mean property that was initially placed in service in this state or outside of the state after December 31, 2012.
Sample 1Sample 2Sample 3
New personal property means business personal property that:
Sample 1
New personal property means personal property that was
Sample 1
New personal property means tangible personal property taxable for the first time in the current tax year. The assessed value of new personal property is listed on line one of each group on the annual personal property schedule, with the exception of groups 7, 8 and 10.
Sample 1
New personal property means property that meets all of the following conditions: (i) Before January 1, 2013, was not subject to or exempt from the collection of taxes under this act, except inventory exempt under section 9c, and was not in use or placed in service in this state; (ii) Before January 1, 2013, was not in use or placed in service outside of this state; and (iii) Was initially purchased from the manufac- turer, dealer, distributor, or other vendor of new property after December 31, 2012.
Sample 1
New personal property. As defined in Section 6.2.
Sample 1

Related to New personal property

  • Personal Property means all machinery, equipment, furniture, furnishings, movable walls or partitions, computers (and all associated software), trade fixtures and other personal property (but excluding consumable inventory and supplies owned by Tenant) used in connection with the Leased Property, together with all replacements and alterations thereof and additions thereto, except items, if any, included within the definition of Fixtures or Improvements.

  • Tangible Personal Property means all tangible personal property and interests therein, including machinery, computers and accessories, furniture, office equipment, communications equipment, automobiles, trucks, forklifts and other vehicles owned or leased by the Company and other tangible property.

  • Intangible Personal Property means incorporeal personal property including, but not limited to, deposits in banks, negotiable instruments, mortgages, debts, receivables, shares of stock, bonds, notes, credits, evidences of an interest in property, evidences of debt, and choses in action generally.

  • Eligible personal property means property that meets all of the following conditions:

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Real Property of any Person shall mean all the right, title and interest of such Person in and to land, improvements and fixtures, including Leaseholds.

  • Residential property means improved property that:-

  • Owned Real Property has the meaning set forth in Section 4.10(a).

  • Intangible Property shall have the meaning given to such term in Section 2.1(c) hereof.

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Furniture means articles of which wood, reeds, rattan, cane, seagrass or metal comprise the whole or part and such as are usually made or assembled by cabinet makers, assemblers in the furnishing trades, chair and couch makers, upholsterers, wood carvers, or wood turners; and