Personal property is defined as tangible and intangible. If you cannot perceive the property itself, it is intangible. They are usually located either within municipalities or in adjacent or otherwise proximate territory. These lots and tracts cannot contain more than 5 acres of land. PU Code D - Real Property, Farms and Acreage Larger vacant tracts of land including timberland, ranches, recreational acreage, idle land, and waste land.
Major criteria are rural location and description in terms of acreage.
However, it is possible for farms to be located within city limits. These tracts of land must be over 5 acres. Improvements Improvements associated with land reported as Category D property, including residences, barns, silos, sheds, garages, and other improvements associated with farming or ranching. Producing oil and gas wells, and all other minerals being mined including coal, ores, metals, etc. This category does not include the value of the surface land being produced.