PROPERTYTAX

Property tax

A property tax is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county/geographical region, or a municipality. Multiple jurisdictions may tax the same property.

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property tax

Noun

  1. An (usually) ad valorem tax charged on the basis of the fair market value of property. The scope of taxable property varies by jurisdiction and it may include personal property in addition to real estate.


The above text is a snippet from Wiktionary: property tax
and as such is available under the Creative Commons Attribution/Share-Alike License.

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