In general, Business Property is all property owned or leased by a business except Real Property and Inventory items.
Business Property includes, but is not limited to:
Tangible property owned, claimed, possessed or controlled in the conduct of a profession, trade or business may be subject to property taxes.
In general, business property depreciated values are based on original cost, property classification and type of business. However, other approaches to value may be used when appropriate. Unlike real property, business property is appraised annually and is not subject to a base year value or a minimum inflationary factor under Proposition 13.