What type of asset is described as permanently affixed to a property?

The type of asset described as permanently affixed to a property is classified as real property. Real property encompasses land and anything permanently attached to it, including buildings, structures, and improvements. This classification is important in property assessment because it determines how the property is taxed and valued.

In contrast, personal property refers to movable items that are not permanently attached to or integral to the property, such as furniture or vehicles. Intangible assets include non-physical items like trademarks or patents, which do not relate to physical property at all. Tangible assets, while they may include real property, also refer to movable physical items that are not necessarily affixed to a property. Therefore, the best fitting classification for an asset that is permanently affixed is real property.