What is the definition of Municipal Property?

For most municipal purposes there are two classes of tangible property: “real property” and “personal property.” Real property includes land and whatever buildings, or structures (appurtenances) are affixed to land and whatever is growing upon the land, 70-1-106, MCA. Personal property is, in general, all property other than real property and includes, among other tangible things, a municipality’s capital equipment, as discussed below.