How many classes of property are recognized in Georgia?

In Georgia, the property classification system recognizes two main classes of property. These are typically identified as real property and personal property. Real property includes land and anything permanently attached to it, such as buildings and other structures. Personal property encompasses movable items that are not classified as real estate, like vehicles, furniture, and equipment.

Understanding this classification is crucial for appraisers and property assessors, as it impacts property taxation, assessment procedures, and overall valuation methodologies. The distinction between these two classes helps in determining how properties are treated under state law, particularly concerning taxation and regulatory requirements. Such classifications facilitate a structured approach to assessing property value and ensuring compliance with state policies.