What does Class 2 in property assessment represent?

Class 2 in property assessment typically represents non-residential properties. This classification includes commercial buildings, industrial properties, and other facilities that are primarily used for business purposes. Non-residential properties can encompass a wide range of types, including office buildings, retail spaces, and warehouses.

Understanding property classifications is essential for accurately assessing property value for taxation and reporting purposes. Each class is categorized based on the use of the property, with Class 2 serving to differentiate non-residential assets from other classifications, such as residential properties or specialized uses like farmland. This classification is particularly important for municipal and tax assessment functions, as it influences how properties are taxed and helps in planning community resources.

The other choices represent different classifications: farmland is typically a distinct class due to its agricultural nature, residential properties are categorized separately given their primary use for dwelling, and machinery and equipment often fall under personal property classifications or specific categories outside the realm of real estate assessments.