How does Connecticut characterize 'income-producing property'?

Connecticut characterizes 'income-producing property' as properties that produce rental income, which includes various types of properties such as multifamily homes, commercial properties, and other real estate that generates income through leasing or renting. This classification is important for assessment purposes, as the income generated can significantly influence the property's market value and subsequent tax assessments.

When understanding income-producing properties, it's essential to recognize how they contribute to the local economy and tax base. These properties are evaluated based on their potential income generation rather than just their physical characteristics or ownership structure. This approach allows assessors to determine values that reflect the revenue capabilities of the property, which can be essential for taxation and economic analysis in the area.

Other categories mentioned in the options do not align with the definition of 'income-producing property.' Properties that generate tax revenue for the state are not necessarily income-producing in the rental sense, while properties that are solely residential may not inherently generate income unless they are rented out. Likewise, properties owned by businesses do not automatically qualify as income-producing; the business's operational nature and whether it generates rental or lease income determine that status.