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 ?
In the meantime, though, the citys 5 percent tax levy increase is unlikely to have an effect on city property owners.
A five-year tax levy for the Fern Ridge Library passed with 3,003 yes votes and 2,345 no votes.
26: A copy of the original Tax Levy Certificate, which was previously filed with the Circuit Court Clerk, and an electronic file of parcels with the amounts to be charged to ericsonsusan@co.
Commissioners agreed with Smith, citing the sagging local economy and three consecutive defeats of earlier public safety tax levy proposals as further reasons to hold off for now, board Chairman Bill Dwyer said.
The class share is the portion of the total tax levy paid by each class.
5 percent increase to the city's tax levy that is allowed under state law.
Budget officials said they divided the total tax levy (approximately $8.
Due to the district's tax base growth and existing debt structure, issuance of this debt is not expected to increase the debt service tax levy.
The state constitution imposed a limit on the operating property tax levy equal to 2.
25% income tax levy on all taxable income within the city.
86 percent next year, under a tax levy passed on Monday night by the Marion City Council.