Which of the following is NOT a characteristic of personal property?

The correct answer highlights that personal property is not typically taxable as real property. Personal property refers to movable items that are not affixed to land or buildings, and it encompasses a range of assets, including tangible goods like furniture, vehicles, and equipment, as well as intangible assets like stocks and bonds.

In contrast, real property consists of land and anything permanently attached to it, such as buildings and fixtures. Since personal property is distinct from real property in this regard, it does not share the same tax treatment, which usually applies to real property based on its assessed value.

Understanding the nature of personal property emphasizes that it can be sold (as it is ownership-based), it includes items that can be physically moved (distinguishing it from stationary real property), and it can indeed be tangible or intangible, showcasing the diverse forms it may take. Thus, the characteristic of being typically taxable as real property does not apply to personal property.