Taxable property is divided into two classes.
Real property includes land and all the buildings, structures and improvements to the land. This is the kind of property tax familiar to most people.
Property tax also applies to personal property used in the conduct of a business. Personal property includes:
- Machinery and equipment
- Tools and other items used for business purposes, including leased equipment such as copiers and communications equipment
It also includes such things as farm machinery and equipment, logging equipment and the assets of manufacturing companies.