property tax
tax assessed on property such as real estate. The tax is determined by several factors, including the use of the land (residential, commercial, or industrial), the assessed valuation of the property, and the tax rate, expressed in mills .
property tax - Related Articles
The Value and Management of Intellectual Property, Intangible Assets, and Goodwill
Best Practice ...
GENERAL PROPERTY TAX - A tax levied on real estate and personal property.
GENERAL REAL ESTATE TAX - General real estate taxes are levied to fund the operation of the governmenta...
Personal Property Taxes
In some states, taxes are imposed on the value of certain personal property that you own such as cars, trucks, or investments.
Foreign Investor in Real Property Tax Act of 1980
Under FIRPTA (Foreign Investor in Real Property Tax Act of 1980), and the Economic Recovery Act of 1981, unless an exemption is granted by the IRS, ...
Property taxes
A property tax is usually levied on the value of property owned, usually real estate. Property taxes may be charged on a recurrent basis, or on upon a certain event.
Property tax
A tax levied on real property based on its use and its assessed value.
Proportional representation ...
Property Tax: a tax charged by local government and used to fund municipal services such as schools, police, or street maintenance.
property tax a tax on the value of property owned. (14)
proportional tax a tax for which the amount of an individual's taxes as a percentage of income is constant as the person's income rises. (14) ...
property tax: Tax on property owned.
prospectus: Formal written documents that describe a plan for a proposed business, often issued by mutual funds that describe objectives, risks, and other necessary information.
Property Taxes
Taxes that are paid by the owner of real property which are based on the property's value.
Property Value
The worth or amount of money a real property is sold for depending on the price negotiated by a buyer and seller.
Property tax
Main article: Property tax
A property tax is a tax put on property by reason of its ownership.
Real property tax
A real property tax is a local tax on the value of real estate.
General Property Tax
A tax levied on real estate and personal property.
GHRS
Government Human Resources System. The component of the City's integrated computer system used to track personnel information and process payroll.
PROPERTY TAX: A tax on property. This is a popular tax at the local level for cities, counties, and school districts. In many places it has been a primary source of funding for public schools.
Property Tax - Pros and Cons
by Blayne Penton
Property tax can be the fairest and at the same time the unfairest tax collected by municipalities.
Property Taxes Payable
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These three cost accumulation entries are shown below after posting. Our next step is to assign these costs to the appropriate inventory accounts. Journal entries 1-3 are shown as they would appear after posting.
- Property Taxes. REITs must pay property taxes, which can make up as much as 25% of total operating expenses. State and municipal authorities could increase property taxes to make up for budget shortfalls, reducing cash flows to shareholders.
Estimated Property Taxes
An estimate of property taxes to be paid. Amount is based on local tax rates and assessed property value (based on most recent sale price plus assessment updates).
Cut Your Property Taxes
More than half of property tax assessments are incorrect - so you could be overpaying. MoneyWatch's Eric Schurenberg tells you how to lower your property taxes. (01:49)
How to Use the Properties of a Rhombus ...
IMRS 09-0001015 - Property Taxes
Issue: Maine Revenue Services would like to know if the additional standard deduction for property taxes, as provided for in the Emergency Economic Stabilization Act of 2008, ...
[ITDS] ad valorem real property taxes Taxes imposed on real property based on its value. [FDIC] ad valorem tax A tax measured or based on the value of the property being taxed. [EPA] property taxes on the assessed value of a property.
Net lease A lease arrangement under which the lessee is responsible for all property taxes, maintenance expenses, insurance, and other costs associated with keeping the asset in good working condition.
TAX FORECLOSURE -- The process of enforcing a lien against property for nonpayment of delinquent property taxes.
TAX FORM -- It is usual to design special forms for taxpayers to declare their taxable income, sales, etc. for tax purposes.
The amount on which a taxpayer pays taxes, as for example their taxable income in the case of an income tax, or the taxable value of their property in the case of a property tax.
Tax break ...
fixed cost A cost that does not vary depending on production or sales levels, such as rent, property tax, insurance, or interest expense. fixed expenses See fixed cost.
Property Tax
A tax charged on real property and assessed according to whether it is used for residential, commercial or industrial purposes. In the UK a ...(Read more)
Proposal Form ...
factors, but historically the most common sorts of tax have been levied based on the wealth or the income or some other characteristic of the particular taxpayer at a given time ("direct taxes" like income tax, social security tax, real property tax, ...
An account maintained by mortgage companies to collect amounts such as hazard insurance, property taxes, private mortgage insurance and other required payments from the mortgage holders; ...
A $5 million dollar house comes with insurance costs and property taxes to match. Multi-million dollar houses often include gardeners, pool maintenance, domestic help and many other costs. These people can't exactly buy their furniture at Sears.
Enterprise zone is commonly associated with such business incentives as income tax credits, equipment tax refunds, and property tax credits.
Examples are: interest on bonds, rent, property tax, depreciation (sometimes in part).
The county tax adjustor does this when the property tax has not been paid and the amount of time has past for payment without a penalty.
Prepay the second installment of your property tax by Dec. 31. Many counties bill taxpayers in two installments, with one due in November and the other in February.
In some instances, for example, the terms of the lease may include a cap on total property taxes to be paid by the tenant. If the property taxes rise above a certain amount, the landlord will be responsible for covering the remainder.
If you already own a home, you know about property taxes. But if you're buying for the first time, you cannot forget about adding the cost of yearly property taxes to your expenses.
Individual states and localities offer nonprofits exemptions from other taxes such as sales tax or property tax. Federal tax-exempt status does not guarantee exemption from state and local taxes.
PITI: Principal, interest, property taxes, and insurance generally comprise the monetary payment to a mortgage lender.
See Dick Netzer, Economics of the Property Tax (1966); J. F. Due, Government Finance (4th ed. 1968); C. S. Shoup, Public Finance (1969); H. M. Groves, Financing Government (7th ed. 1973); C. Webber and A.
An account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.
Impounds
Money that is placed in an escrow account to pay for property taxes and insurance.
property tax, rent, and depreciation on factory) that have been assigned to (aborbed by) the products manufactured via a predetermined rate. Ideally, by the end of the accounting year the amount applied will equal the amount actually incurred.
In California, Mello Roos taxes are additional encumbrances added to basic property taxes.
A tax based according to item value only, usually property tax based on the just or fair market value of the property. This tax can also be imposed on as a duty on imported items.
House Value Online: Home Values Property Tax Appeals - Determine house values for purchase, sale or how nto win your own property tax appeal without the cost of an appraiser or attorney ...
What are property taxes like in the country looking to invest in? What is most tax efficient way to buy ie joint names, limited company? What are other taxes like? Eg Capital gains tax, wealth tax, inheritance tax, income tax.
Amounts you prepay to cover property taxes and insurance premiums as part of your regular mortgage payment are also held in escrow until those bills come due and are paid. In that case, you may earn interest on the amount in the escrow account.
Local governments rely most heavily on property taxes. Contrary to what many believe, any explosion in taxation has been at the state and local levels.
The collection of principal, interest, and sometimes property taxes from borrowers; accounting for the cash flows due and the cash flows received; and remitting the cash flows to the entitled recipients.
servicing spread ...
Alligator Property - In real estate, when the cost of mortgage payments, property taxes, insurance and maintenance on a rental property is greater than the income it brings in.
MILL " Used in computing the property tax which is owed on real estate. A mill equals 0.1% (.001) of assessed value or $1 per $1,000 of assessed value.
Absorbed costs: The indirect costs associated with manufacturing, for example, insurance or property taxes.
Absorption costing: An accounting practice in which fixed and variable costs of production are absorbed by different cost centers.
ASSESSMENT Tax on real property either by an annual property tax based on current fair market value or via special assessments for sewers, public improvements, etc.
See also: Land, Like-Kind Property, Personal Property, Property Tax, Real Estate
? Mentioned in
Ad Valorem Tax
Assessor
Beneficiary
Carried Interest
Equity REIT ...
Double Net Lease definition :
A lease arrangement under which a lessee has to pay rent, property taxes, insurance, and all other costs incurred when using the asset. Whereas, the lessor has to cover maintenance expenses.
A prepaid expense occurs when services or supplies are purchased but not used by the end of the accounting period, such as property taxes (if your fiscal year-end is not the same as the year-end for property taxes) and insurance.
Triple-Net Lease - A lease requiring the tenant to pay for property taxes, insurance and maintenance in addition to rent. Also referred to as Net Net Net Lease.
A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments.
The value of real property established for the purpose of computing real property taxes. The assessed value may differ from the APPRAISED VALUE and MARKET VALUE.
ANCHOR ...
The sum of mortgage payment, hazard insurance, property taxes, and homeowner association fees. Same as PITI and "monthly housing expense."
Housing expense ratio ...
Tax State
The state in which a payee is a permanent resident and pays taxes, such as income or property tax.
Taxable
The amount of the distribution that is subject to tax.
 See also: Expense, Saving, Banks, Administration, Capitalized
  
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