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 ?
M&O Levy Growth and Renewal: The IDR is sensitive to the ongoing growth of the M&O tax levy and to the successful extension of the M&O tax levy, which Fitch considers likely based on essentiality of safety net healthcare services, strong community support and the small impact of the M&O tax in relation to the overall property tax burden on Maricopa County taxpayers.
With the set of tax rates being recommended by the chamber, homeowners would fund 61 percent of the tax levy, while property taxes from businesses would fund 39 percent, according to figures provided by the city assessor.
In 2005, the city government had tried to file for a tax levy against NSC for unpaid real estate taxes in 1999-2005, but was barred because of a stay order from the Securities and Exchange Commission as the facility at that time was undergoing rehabilitation.
That's an awful lot of tax levy from just one airport.
The effect of this change is a reduction in the share of the real property tax levy for Class One and Class Two for 2007.
Voters approved a tax levy designed to "upgrade obsolete computer workstations," yet the judge seems to think that purchasing laptops does not represent an upgrade.
(8) It reduces the revenue raising capacity of local governments by setting maximum rates and eliminating the banking of unused levy allowances in calculating the maximum permissible property tax levy for a civil taxing unit, for a county family and children property tax levy, and for a county children's psychiatric treatment services property tax levy.
In 2001, the coalition's campaign pushed city council to agree to a $3.2 million tax levy that, combined-with some $1.8 million in state matching funds, led to a $5 million allotment for groups of color working on HIV/AIDS prevention.
In addition, Senior Independence-Cincinnati is a transportation provider for the Hamilton County Elderly Services Program (ESP), which is supported with local tax levy funds, and is a PASSPORT (an Ohio Medicaid waivers program) transport provider serving communitybased clients.
6334(a) "right to property" and justified the government tax levy on the property.
Brave pensioners Doug and Doreen Osborn - jailed after refusing to pay a poll tax levy - have walked free with heads held high.