At A Glance So what is this thing called intangible property?
Even experts have a difficult time explaining it. Tangible
property is much easier to understand, said Wade Patterson,
Garfield County assessor. Tangible property is property a person
can touch like a building, home, manufacturing equipment, car or
furniture. Intangible property is property whose value stems not
from its physical attributes, but from what it represents. Cash,
for example, is often considered intangible property because its
value stems not from the value of the paper, but from the value
of items that can be purchased with it. Other examples of
intangible property are stocks, bonds, promissory notes,
annuities, patents, inventions, licenses, contracts, land
leases, mineral interests, insurance policies, custom computer
software, trademarks and brand names. The Oklahoma Constitution
specifically exempts certain types of intangible property from
taxation including cash, stocks, bonds, promissory notes, gold,
silver, certificates of dep