(2) As used in this section "land" means the land itself, above or under water, but does not include:
(a) Any buildings, structures, improvements, machinery, equipment or fixtures erected upon, under, above or affixed to the land; or
(b) Mines, minerals, or quarries in, under or upon the land. The term "land," however, does include all water rights appertaining to the land. [1982 s.s.1 c.25 §2; 1995 c.589 §5]