Which Basic Property Class Code is assigned to residential properties?

The Basic Property Class Code that is assigned to residential properties is indeed "Residential." This code encompasses a wide range of property types primarily intended for human habitation. Residential properties include single-family homes, multi-family buildings, and other dwellings where people live.

Using this classification allows property appraisers and local government agencies to effectively evaluate and analyze property data for taxation, zoning, and services tailored to residential needs. By having a specific classification for residential properties, agencies can address issues relevant to homeowners and renters, such as property values, development trends, and community planning.

The other classifications, such as industrial and commercial, refer to properties used for business and manufacturing purposes, which do not focus on residential living. The "tract" classification typically indicates larger parcels of land that may not have a specific development designation, further distinguishing these properties from those intended primarily for residences. Understanding these classifications is vital for accurate property assessment and effective urban planning.