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What (who) is property tax - definition
Property tax
![international variation in PPP GDP per capita]].](https://commons.wikimedia.org/wiki/Special:FilePath/GDP per capita PPP vs property taxes 2016.svg?width=200 "international variation in PPP GDP per capita]].")
TAX ON PROPERTY, PARTICULARLY REAL ESTATE
Real estate tax; Property taxes; Mill levy; Millage tax; Millage; Mill rate; Assessment tax; General property tax; Personal property tax; Property taxation; Property Tax; Property-tax; Australian real estate tax; Homeowner Tax; OZB; Mill (taxation); Property Transfer Tax Act; Property Transfer Tax; First Time Home Buyers Program; Newly Built Home Exemption; Land property tax; Real estate property tax; House property tax; Mill tax; Property protection tax; History of property taxation
A property tax or millage rate"Millage Rate" at Investopedia. is an ad valorem tax on the value of a property.
property tax
TAX ON PROPERTY, PARTICULARLY REAL ESTATE
Real estate tax; Property taxes; Mill levy; Millage tax; Millage; Mill rate; Assessment tax; General property tax; Personal property tax; Property taxation; Property Tax; Property-tax; Australian real estate tax; Homeowner Tax; OZB; Mill (taxation); Property Transfer Tax Act; Property Transfer Tax; First Time Home Buyers Program; Newly Built Home Exemption; Land property tax; Real estate property tax; House property tax; Mill tax; Property protection tax; History of property taxation
n. an annual governmental tax on real property or personal property based on a tax rate (so many dollars or cents per $100 value of the property). The value is usually established by an Assessor, a county official. In California the assessed value of real property is based on the amount of the last sale of the property, and the tax is limited to 1% of that figure (with a few minor exceptions) under the so-called "Proposition 13" state constitutional provision. In addition, there are special assessments for particular public property improvements such as sidewalks, tree planting, or storm drains which are charged to each property owner on the street in which the improvements are made.
See also: ad valorem tax
Local property tax (Ireland)
The local property tax (LPT) is annual self-assessed tax charged on the market value of all residential properties in Ireland. It came into effect on 1 July 2013 and is collected by the Revenue Commissioners.
Examples of use of property tax
1. "You think [the property tax is] where the revolt should not come, but it does," says Helen Ladd, a property tax expert at Duke University in Durham, N.C.
2. He insisted: "It‘s about fairness as a property tax.
3. Property tax cuts in New Jersey and Pennsylvania.
4. Berlusconi promised to abolish a homeowner‘s property tax.
5. Like his GOP rivals, Corzine has promised property tax relief.