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Personal property

Personal property includes all movable and tangible things that are not real property—such as money, goods, furniture, motor vehicles, animals, stocks, bonds, patents, copyrights, merchandise, and personal annuities.

In Kentucky, personal property is defined as any property that is not real estate, which means it includes movable items and intangible assets. This encompasses a wide range of items such as money, goods, furniture, motor vehicles, animals, and various types of securities like stocks and bonds. Intellectual property rights such as patents and copyrights are also considered personal property. Additionally, personal annuities, which are investment products that pay out income, fall under the category of personal property. The state has specific regulations and tax implications for personal property. For instance, Kentucky requires the assessment of personal property for tax purposes, and taxpayers must annually report the value of their personal property to the county property valuation administrator (PVA). The taxation rate and the method of valuation can vary depending on the type of personal property and its use.

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Personal property

Individual & Family Legal Plan

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Kentucky State Code

Personal property

Kentucky State Code

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