Final answer:
It is true that listed property needs to be used more than 60 percent for business purposes to be considered predominantly used in business, impacting tax depreciation deductions.
Step-by-step explanation:
To answer the question, it is true that for listed property to be considered as predominantly used in business, its business use must exceed 60 percent. This threshold is significant because it determines how much of the depreciation and other associated costs can be deducted for tax purposes. Business owners must not only adhere to property ownership rights but also fulfill the responsibilities and comply with various government regulations like zoning regulations. Such regulations have been part of the American legal landscape since New York City adopted the first zoning ordinance in 1916 and have become a commonplace aspect of land-use control in urban areas across the country.