Property Types
Property Types and Asset Classes
Pages about residential and commercial classes, 5 and 7 year property, land improvements, land allocation, and decisions for short-term, long-term, multifamily, and commercial properties.
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Different properties call for different questions. A furnished short-term rental, a long-term single-family rental, an apartment building, and a retail center each start from different baselines and have different components worth analyzing.
This hub explains the 27.5 year residential and 39 year nonresidential classes, the kinds of items commonly treated as 5 or 7 year property, land improvements with their 15 year life, and the land versus building allocation that sets the depreciable base. It then offers decision-oriented pages for short-term rentals, long-term rentals, multifamily properties, and commercial properties.
Start with Depreciation Classes: 5, 7, 15, 27.5, and 39 Years if you are new to the classes, or go straight to the page that matches your property. When you are ready to test usability, visit the tax limits hub.