07/15/2026
Leased Vehicles vs Financed Vehicles
Part One: Leased Vehicles
Leased Vehicle
✅Title and registration will list company as owner. The company name may be followed by “c/o” or “%” and then your name, but these are not indicators of ownership interest.
✅Owned by lessor (company)
✅Essentially a longer-term rental agreement for so many months and/or miles
✅Your monthly payments do not count toward ownership although you may be offered an opportunity to buy-out your lease.
📌If you are leasing a vehicle, it is most likely you should not assess the leased vehicle on your personal property assessment form.
📌If you are leasing a vehicle, do not pay the personal property tax bill that is in the leasing company’s name. They will pay, then bill you for reimbursement.