Personal property is divided into "tangible" and "intangible" forms. What is the difference between real property and personal property? Property (real estate) tax is charged on immovable property—land and structures that are permanently attached to the ground such as a … Real Property vs Personal Property. The term “real estate” applies to the house and all its body parts. Real and Personal Property. This includes kitchen appliances and anything else that is wired, screwed, nailed, connected, vented or plumbed into the house structure. What is the difference between real property and personal property? This type of property is eligible to be taxed at the same rate as true real estate property. Real Property vs Personal Property. Real estate tax and property tax are the same thing. Real estate tax and property tax are the same thing. Real Property. The line between personal property and real estate is not merely linguistic. Types of Personal Property. There are two basic types of personal property: tangible and intangible. About the Author: The above Real Estate information on what’s a fixture vs personal property was provided by Bill Gassett, a Nationally recognized leader in his field.Bill can be reached via email at [email protected] or by phone at 508-625-0191. Personal property is anything other than real property. When you buy a home, you are buying real estate, often called real property. The IRS uses the term "real estate tax," but most people call it "property tax." The term chattel sometimes refers to all kinds of personal property, but often it refers only to tangible personal property (such as nose flutes and toenail clippers) as opposed to intangible property.. A chattel, such as a furnace, can be affixed to land and become part of the real property. Real property incorporates all things attached to the land and all rights inherent with that land. This page doesn't cover information on personal property owned by operating property companies, such as public utilities and railroads, which is assessed by the Idaho State Tax Commission. Almost every piece of property falls into one of two categories: real or personal. Wide range of free informational resources: articles, downloadable reports, blog news and more. A car and a Mobile Home are both movable and personal property. Ownership of a Mobile Home depends on where it is located and how it is attached. There are two classifications of property, real and personal. It is an owner's right to get tax benefits for chattel, and there are businesses that specialize in appraising personal property, or chattel. Also issues for commercial businesses, tenant propert and equipment, business inventory, etc. Differences between real and personal. Personal property tax in Idaho is assessed by the county assessor's office of the county where it's located.