Property Tax Classifications

The State constitution divides property into four classes:

Class I: Intangible personal property and certain personal property employed exclusively in agriculture. [No property is currently taxed in this classification.]

Class II: Owner-occupied residential property used exclusively for residential purposes and all farm land used for agricultural purposes by its owner or bona fide tenant.

Class III: All real and personal property situated outside a municipality that is not taxed in Class I or Class II.

Class IV: All property situated inside a municipality that is not taxed in Class I or Class II.