property tax

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property tax

n. an annual local 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: ad valorem, tax)

References in periodicals archive ?
The agricultural real estate tax also reached EGP 203m, against a target of EGP 58m.
Hydro power plants have been subject to a real estate tax rate that has resulted to approximately 12 times higher real estate tax per kWh compared to any other production due to different tax rates and different valuation factors.
html) New Jersey sits at the bottom of the list with the highest effective real estate tax rate in the nation.
This is because real estate tax assessments, the value upon which the tax rate is multiplied to determine the tax amount payable, will continue to rise.
0 million) will be subject to the central government comprehensive real estate tax in addition to existing real estate taxes.
The most common seems to be the practice of including existing real estate tax recoveries as an income item, removing real estate taxes from the expense side of the income statement, and applying a capitalization rate loaded with the full tax rider or load to the resultant net operating income (NOI), before real estate taxes.
In addition, Stroock represents owners and developers in negotiating and obtaining valuable tax incentives and exemptions, such as those emanating from the ICIP, as well as advising on the real estate tax structures in PILOT agreements for important sites such as the World Trade Center and Battery Park City.
McHenry County is interested in purchasing services for the printing of real estate tax bills, envelopes, other related literature, and the preparation and mailing of real estate tax bills for the McHenry County Treasurers Office, in accordance with the specifications as set forth herein.
The crisis between banks and the Ministry of Finance over imposing real estate tax on assets devolved to banks continues, said Federation of Egyptian Banks (FEB) Board Member Amr Tantawy.
Our Real Estate Tax Mitigation team delivers the highest quality service to our clients in all of these areas.
Liebman represents institutional and real estate clients in every aspect of property taxation and the tax certiorari field, from strategic real estate tax planning to trial and appeal.
The official said that it was agreed that real estate tax would be calculated according to the market value of the facility in the majority of the tourist areas.

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