[gamblor956]

I'm not sure where you're getting your definition of personal property from, but for tax and legal purposes generally all tangible goods that aren't permanently fixed in place are considered "personal property." So basically everything physical except for buildings and fixtures.

So as described in your comment, COST would apply to personal property.

Also, personal property owned by a business is taxed in California (under the business property tax) and generally in some European countries, some South American countries, and India.

That doesn't include the countries that impose wealth taxes, which includes items that would be considered personal property.