Which of the following terms best defines "tangible personal property" according to Texas property tax regulations?

The term "tangible personal property" is defined as physical assets that can be touched. This category includes items such as machinery, equipment, furniture, and vehicles—anything that can be physically handled and has value. In the context of Texas property tax regulations, tangible personal property is distinct from intangible assets, which cannot be physically touched, such as intellectual property or goodwill. Similarly, financial accounts and real estate investments fall outside the scope of tangible personal property as they pertain to financial value or real estate as opposed to physical items. Understanding this distinction is crucial for property tax consultants and ensures accurate classifications for taxation purposes.