§ 141.23 Residential real estate.

residential real estate or residential real propertyThe terms mean:

(a) Homes (including a dwelling unit in a multi-family residential property such as a condominium or a cooperative);

i.e.,(b) Combinations of homes and business property ( a home used in part for business);

(c) Other real estate used for primarily residential purposes other than a home (but which may include homes);

i.e.,(d) Combinations of such real estate and business property involving only minor business use ( where no more than 20 percent of the total appraised value of the real estate is attributable to the business use);

(e) Farm residences and combinations of farm residences and commercial farm real estate;

(f) Property to be improved by the construction of such structures; or

(g) Leasehold interests in the above real estate.