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What Properties Must Be Appraised?

REAL PROPERTY - the physical land and appurtenances affixed to the land, e.g., structures. The term "land", "real estate", "realty" and "real property" are often used interchangeably.

TANGIBLE PERSONAL PROPERTY - items other than real estate that is used in a business or rental properties. It includes such assets as furniture, computers, tools, machinery, signs, equipment, leasehold improvements, supplies and leased equipment.

MINERALS - although considered real property are mentioned separately due to the oil fields in Jay and the Blackjack Creek Field. Mineral rights and working interests are taxable.

CENTRALLY ASSESSED PROPERTIES - commonly thought of as railroads, are appraised by the Department of Revenue.

MOBILE HOMES & MANUFACTURED HOMES - when permanently in place with a real property (RP) designation.