What characterizes a "non-homestead" property?

A "non-homestead" property is characterized by its primary use for rental or commercial purposes. This designation typically applies to properties that are not used as a primary residence by the owner. Instead, they are often utilized in a manner that generates income or serves business activities, such as apartments that are rented out to tenants, retail spaces, or office buildings.

Understanding this classification is crucial for assessing property taxes and determining eligibility for certain tax exemptions or credits, which are often available for main residences or homestead properties. Non-homestead properties do not qualify for these benefits, as they are not primarily associated with individual living arrangements. The focus on rental or commercial utilization distinguishes these properties within the broader classification of real estate.

Properties that serve as main residences refer to homestead properties and would not fall under the non-homestead category. Vacant land without any structures could be classified differently depending on its intended use and whether it generates income, and government-owned properties belong to a specific category focused on public ownership rather than commercial or rental usages.