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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) |
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In 2004-2005, propelled primarily by property tax revenue from businesses, local sources in Rondout School District 72 generated $26,356 per pupil--the highest rate in the state. The reorganization is designed both to take advantage of Burr Wolff's strong results in large property tax appeals and to enhance productivity and improve results on its customers' high-volume, low-value property tax appeals. Moss Adams LLP in Los Angeles hired John Corum as property tax manager in the state and local tax group. |
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property tax
