Three types of property are assessed and subject to taxes: Real Estate, Motor Vehicle, and Personal Property. Any land or buildings you own are considered real estate. Registered motorized or unmotorized vehicles, including cars, trucks, trailers, and motorcycles, are considered motor vehicles for tax purposes. Personal property is a general category that includes business equipment, machinery, furniture, and fixtures either owned or leased by the business. Unregistered motor vehicles are also taxed as personal property.