A kitchen sink is categorized as what type of property?

Prepare for the South Dakota Certified Appraiser Assessor CAA Exam. Study with comprehensive flashcards and multiple choice questions, each with hints and detailed explanations. Ace your certification!

A kitchen sink is categorized as tangible property because it is a physical, tangible item that can be touched, seen, and measured. Tangible property refers to items that have physical substance and are not just abstract concepts. In the context of real estate and property assessment, tangible assets can include fixtures and improvements made to a property, such as a kitchen sink.

While real property usually encompasses the land and anything permanently attached to it, a kitchen sink, as a fixture, can also be considered tangible personal property if it is not permanently installed or is removable. Intangible property refers to non-physical assets like patents or trademarks, which do not apply in this case. Understanding these classifications helps appraisers and assessors determine the value of different property types effectively.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy