This effort comes after the Select Board approved a contract with an outside consultant to conduct a personal property valuation. Personal property in the commonwealth is defined as movable physical items that are not permanently attached to land or a building. After turning his attention to personal property, Austin said he became “concerned.” He discovered several businesses in town that had claimed to be exempt from personal property taxes but were not. However, while the equipment’s depreciation schedule might end with it at a zero value, Austin said that for personal property purposes, it never goes below 30%.