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 ?

On appeal, the Commissioner argued that the court improperly determined the fair market value of the condemned property on the basis of a five-year-old municipal property tax assessment.

Fair market value determined by current highest and best use

A sensible approach to municipal funding problems would be to: (i) shift most social service costs to the provinces; (ii) pursue municipal property tax reforms to reduce the scope for tax competition and exportation; (iii) raise more municipal revenue from user fees where reasonable; and (iv) reduce provincial transfers to municipalities.

Running on empty: a proposal to improve city finances

The city of Eugene, for instance, provides support for programs in the Eugene and Bethel school districts through a voter-approved municipal property tax levy.

Renew school levy

The proposals are built around the following principles: 1) statewide municipal property tax relief is essential to urban revitalization; 2) state economic development funding must provide incentives for a bottom-up planning process; 3) tourism presents an opportunity for the economy and the environment to come together to benefit all New Yorkers; and 4) the interdependence of urban, suburban, and rural areas must be acknowledged if each area is to prosper.

New York Cities Unite to Fight Sprawl

20 per share, which was the result of a municipal property tax settlement.

EnergyNorth, Inc. Reports Fiscal 1998 Earnings

Vernon Hills does not collect a municipal property tax and relies on sales tax to fund police protection, snow plowing and other services.

Lake County in 60 seconds

Creating a geographic information system based database for levying and collecting safayi taxes, the municipal property tax used to finance public services such as business licensing fees, public land sales and property leases.

Strong Hubs for Afghan Hope and Resilience Program (SHAHAR)

s salary, then mandates municipalities--regardless of their size or ability to pay--to fund their policing through the municipal property tax base.

Police salaries unaffordable, says retired taxpayer

For example, it's estimated that between 2001 and 2005, provincial property tax revenues from mining firms grew by 110 per cent; conversely, municipal property tax revenues declined by 4.

Sudbury to ask province for mining revenue share: new report encourages city to earn back revenues from province

Kelleher, Robins and Dixie, consultants specializing in waste and the environment, say that the cost of residential waste management service is usually buried-along with items like police and ambulance services--in municipal property tax bills.