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.
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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.
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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).
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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.
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New personal property means business personal property that:
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New personal property. As defined in Section 6.2.
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New personal property means personal property that was
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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.
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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.
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Related to New personal property

  • Personal Property shall have the meaning set forth in the granting clause of the Mortgage.

  • Tangible Personal Property has the meaning set forth in Section 2.01(e).

  • 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.

  • Tenant’s Personal Property means all motor vehicles, Inventories, FAS and any other tangible personal property of Tenant, if any, acquired by Tenant at its election and with its own funds on and after the date hereof and located at the Leased Property or used in Tenant's business at the Leased Property and all modifications, replacements, alterations and additions to such personal property installed at the expense of Tenant, other than any items included within the definition of Proprietary Information.

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

  • Assisted cleaning or washing of tangible personal property means cleaning or

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • 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 means, collectively, all right, title and interest (including any leasehold estate) in and to any and all parcels of or interests in real property owned in fee or leased by any Loan Party, whether by lease, license, or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, incidental to the ownership, lease or operation thereof.

  • 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.

  • 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.