### Question
How is the "personal property tax" defined?


### Answer
The term **personal property tax** is defined in *26 U.S.C. § 164* as follows -

> an ad valorem tax which is imposed on an annual basis in respect of personal property

#### Citation:
  - *26 U.S.C. § 164*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

