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property tax |
Also found in: Legal, Encyclopedia, Wikipedia | 0.04 sec. |
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Property Tax A tax assessed on real estate by the local government. The tax is usually based on the value of property (including the land) you own. Notes: This tax is mainly used by municipalities for repairing roads, building schools, and snow removal or other similar services. Property tax A tax levied on real property based on its use and its assessed value.
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