property tax

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Property tax

A tax levied on real property based on its use and its assessed value.

Property Tax

A tax on the value of land or improvements (i.e. buildings). Occasionally, property taxes are levied on personal property, such as automobiles or securities, as well. All property taxes are calculated as a percentage of the value of the property. In the United States, most property taxes are levied at the city or county levels, and are used for municipal improvements, such as roads or snow removal. Municipalities can issue bonds that are secured by the proceeds on property taxes.

property tax

property tax

See ad valorem tax.

References in periodicals archive ?
A sensible approach to municipal funding problems would be to (i) shift most social service expenditures to the provincial level to be funded by the provinces, (ii) carry out municipal property tax reforms to reduce the scope for tax competition and tax exportation, (iii) raise more municipal revenue from user fees where it is reasonable to do so, and (iv) reduce provincial transfers to municipalities.
s salary, then mandates municipalities--regardless of their size or ability to pay--to fund their policing through the municipal property tax base.
Will schools be able to reduce their reliance on the property tax because they are receiving more money from the state, perhaps allowing the municipal property tax rate to increase to cover a portion of the municipal cuts in state funding?
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.
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.
The Senate last week began action on the massive urban aid tax bill by adding more than $3 billion for cities to designate 100 additional cities and towns as enterprise zones and by dropping an NLC-opposed municipal property tax reporting mandate.
Also included in the most recent quarterly earnings was the credit as a result of the municipal property tax case settlement.
Contract notice: Assign services to support the activity of updating of the tax, to support the activities of evasion of assessment of municipal property tax (ici), only the municipal tax (imu), the fee for the disposal of municipal solid waste (ta.

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