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 ?
When an actual library closing date was announced, many residents who had somehow been oblivious started to voice their disapproval, leading to a third millage vote being scheduled for August 2011, which, if passed, would put the library back under the city domain.
Millage placed a call to the FBI to see if anything could be done, but no one from the agency followed up.
Luring urban visitors to bucolic settings is nothing new to Millage, who recalls autumn pony rides and hay mazes growing up in Siskiyou County, California.
After Ridnour scored, ASU's Curtis Millage tried a desperation shot from about 60 feet, but it didn't come close as time expired.
The success of the millage campaign can be attributed largely to good planning and organization.
More than haft the districts seeking millage increases, ninety-three percent (93%, 82 of 88) responded that the millage proposal increase had passed.
We did not, however, lose our millage requests because of the controversy surrounding the project.
8% of spending, representing significant cushion available to carry the district through until the next new millage request in 2013 or 2014.
Tecumseh city officials rejected the plan earlier this month, citing concerns over a possible countywide millage.
The millage is expected to raise $860,427 in the first year, if sanctioned and levied in its entirety.
Those in attendance included: Front-Line Real Estate's Russ McClellan, Tom Brascher, Marsha Brascher, Ottie Asher; Windermere's Keith Wells, Tony Macmillin, Joe Collins, Josh Collins, Christa Millage, Kari Kollmeyer, Morgan Picton, Kara Schell, Mary Flood, Vicki McKinney; ReMax's Diane Leigh, Mary Signorelli; Coldwell Banker/Lake Chelan Properties' Kathy Jo Porter, Gail Manahan; Chelan Realty's Ben Higgins; Century 21 Trophy's Rikki Grow, Wendy Ediger, Nanno van Eysinga; NCW Association of Realtors' Christi Maroney, Jerry Paine (Windermere); North Meridian Title & Escrow's Shari Harmon, Clarissa Steiner, Teddie Shales, Carol Ortloff; Pioneer Title's Steve Ellis, Deborah Foltz; and First American Title's Megan Benson, Hannah Lewis.
Although there are $85 million to $90 million worth of improvements that could be done throughout campus, college officials recently drew $10 million from bond millage funds, MCC Chief Financial Officer Larry Gawthrop told The Flint Journal (http://bit.