What defines real property?

Real property is defined as land and any permanent attachments to that land. This includes not only the land itself but also structures or improvements that are fixed to it, such as buildings, roads, and fences. The permanence of these attachments is key to distinguishing real property from other types of property.

Movable items not attached to land, such as furniture or vehicles, fall under personal property and do not qualify as real property due to their transient nature. Items of sentimental value may not have any legal bearing in the classification of real estate and are thus not relevant to the definition of real property. Likewise, liquid assets like cash and securities are financial instruments and do not pertain to physical land or attachments, reinforcing that they are fundamentally different from real property.

Understanding these distinctions is crucial for tax assessors, as they must accurately categorize property for taxation purposes and ensure compliance with state laws.