What Is a Property Class 1

Class 1 property means property owned or controlled by a state agency concerning which there are no encumbrances or deed restrictions that limit the exploration or drilling for oil or gas on the property.

What is a Class 3 property?

Class 3 property means Assessed Property that is or is intended to be developed as multifamily rental units under common management (e.g., apartments), including any ancillary uses thereto.

What is classified as residential property?

Residential property is property zoned specifically for living or dwelling for individuals or households; it may include standalone single-family dwellings to large, multi-unit apartment buildings.