SkyFive Properties Blog

Property tax is generally divided into two categories—real estate tax (sometimes termed real property tax) and personal property tax—and there are significant differences between the property tax categories in how the taxes are determined. Whether a property tax is deductible for income tax purposes depends on whether the property is used for business, investment or personal use. Property tax is generally levied on tangible property, i.e., property you can actually touch, as opposed to intangible property such as copyrights, trademarks, business goodwill and patents.