What Is Tangible Property?
Tangible property is physical property that can be touched and moved — as opposed to intangible property such as stocks, patents, or accounts receivable, which represent value but have no physical form. The category covers personal belongings like furniture, vehicles, equipment, jewelry, and inventory.
Tangible vs. Intangible vs. Real Property
- Tangible personal property — movable physical items (a car, a tractor, store inventory)
- Intangible property — non-physical rights and interests (bank accounts, shares, intellectual property)
- Real property — land and things permanently attached to it, a separate category from personal property
Tangible Personal Property Tax in Florida
Florida levies a tangible personal property (TPP) tax on the equipment, furnishings, and other physical assets used in a business or rental. Owners file a return with the county property appraiser, and Florida provides an exemption for the first $25,000 of assessed TPP value under § 196.183, Florida Statutes. Tangible property is also central to estate planning, where specific physical items are often distributed by a separate written list.
Related Terms
- Personal Property — The broader category that includes tangible items
- Appraisal — How tangible property is valued
- Estate — Where tangible items are distributed
Barnes Walker
Barnes Walker's attorneys handle Florida property, business, and estate matters involving tangible and intangible assets. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. § 196.183
Provides an exemption for the first $25,000 of assessed value of tangible personal property reported on a timely filed return with the county property appraiser.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC