Which of the following items is likely to require a Freeport exemption application?

A Freeport exemption is a property tax exemption applied to certain personal property that is held temporarily in a jurisdiction and is not meant to be permanently stored there. Typically, this exemption is intended to promote business activities by alleviating property taxes on goods that are in transit or are intended for resale.

Raw materials are often eligible for the Freeport exemption because they are not permanently situated in the location where they are stored. Instead, they are usually intended for further processing or manufacture before being sold, making them suitable candidates for this type of exemption. Since raw materials are generally not intended for long-term storage in a given jurisdiction, they can apply for the Freeport exemption, allowing businesses to avoid property taxes on these items.

In contrast, finished goods are typically no longer in transit and are ready for sale, which usually makes them ineligible for the Freeport exemption. Office supplies and furniture, being items that are more likely to be used on-site and have a defined purpose within the business rather than being in transit or meant for immediate resale, would also not qualify for this exemption. Overall, this context helps clarify why raw materials fit within the criteria for the Freeport exemption while the other options do not.