How is property generally classified for tax purposes in Georgia?

Property in Georgia is classified for tax purposes into three main categories: real property, personal property, and intangible property. This classification system allows for a clear distinction in the types of property that may be subject to different tax regulations and rates.

Real property refers to land and anything permanently attached to it, such as buildings and other structures. Personal property includes movable items that are not affixed to land or buildings, such as vehicles, equipment, and inventory. Intangible property encompasses non-physical assets, such as stocks, bonds, and trademarks.

By classifying property in this manner, Georgia tax authorities can apply appropriate tax assessments and ensure compliance with local and state tax laws. This framework is vital for both property owners and the state in terms of understanding tax obligations and rights. The other classifications mentioned in the other options do not provide a comprehensive view of how property for tax purposes is categorized under Georgian law.