Which classifications are used for real property in Michigan?

In Michigan, real property is classified into several categories to facilitate assessment and taxation. The correct classification includes Agricultural, Commercial, Developmental, Industrial, Residential, and Timber-Cutover. Each of these categories serves a distinct purpose in the property tax system, reflecting the use and characteristics of the property.

Agricultural property pertains to land used for farming activities and includes land specifically designated for agricultural use. Commercial property encompasses those properties intended for business activities, while industrial properties are used for manufacturing or industrial purposes.

The Developmental classification allows for the categorization of land that is expected to be developed in the near future, distinguishing it from properties that are already built and in use. Residential properties are those primarily used for housing, and Timber-Cutover pertains to forested land that has been harvested and is undergoing a transitional phase.

This comprehensive classification system allows tax assessors to accurately determine property values based on their use and potential, ensuring a fair and equitable taxation process across different property types in Michigan.