Property Tax

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Property Tax


a type of direct tax on personal and real property. The property tax has been known since ancient Greece and Rome, where it was collected by the state and designated exclusively for military expenditures. During the period of feudalism the property tax became more systematic, and the property of craftsmen, artisans, and peasants was taxed. Noblemen and clergy were not included in the tax-paying estate and were freed from payment of the tax. The establishment of more flexible forms of taxation and the growth and differentiation of the objects of taxation led to replacement of the general property tax by separate taxes on buildings, land, and other types of property. With the development of capitalism, income tax replaced the property tax.

Property tax has been preserved as an independent tax in the United States, Great Britain, Canada, the Federal Republic of Germany, and a number of other countries. It is levied on the value of buildings, land, equipment, commercial and industrial facilities, and the like. Natural and legal persons who own or lease property pay the property tax. With rare exceptions, property tax rates are proportional. Even where there is a progressive rate of taxation, it is extremely small, which is very advantageous to the propertied classes.

The property tax goes to local budgets. In the United States in the mid-1960’s the property tax supplied about 88 percent of tax receipts in local budgets; in Great Britain, about 25 percent. Large landowners pass on the main burden of the property tax to the working people by including a significant part of the property tax in rent. The interests of property owners are protected in every possible way. Thus, in Great Britain, there is no tax on residential buildings not rented out or on buildings of religious organizations. Industrial, commercial, and transportation enterprises are usually subject to a favorable tax.

There was no property tax in tsarist Russia. After the October Revolution of 1917, a property tax was levied from 1922 to 1924 as part of a combined income-property tax in order to reinforce state regulation of the incomes of various segments of the population and limit the incomes of private entrepreneurs.


References in periodicals archive ?
While the third millage vote was the charm, the TPL saga is ongoing; the millage comes up for renewal again in 2016.
In addition, both the police department's and the fire department's 5-year plans, which were submitted to the city council in May 1995, established the need for the millage campaign.
Various answers were given in response to the question asking why the millage proposal passed or failed.
The district's five year forecast shows net operating deficits in fiscals 2014 and 2015 would result in a negative general fund balance, absent a new millage request.
Hudson City Manager Steve Hartsel said while a millage has been mentioned by county representatives, an official financing solution was not included in the amendment.
Taxpayers have been very generous in continuing support of the millage, Gawthrop said.
A delivery truck 18' NPR Boxtruct; with very low millage is included in the sale.
When Robert Millage pulled the trigger on a female wolf in Idaho last fall, he made history by becoming the first of 146 Idaho hunters to tag a wolf since they were removed from the endangered species list last spring.
The legislation further requires the department to keep records on annual percentage increases in total non-voted millage levied by the taxing entity--to be placed on the DoR website and existing websites of county property appraisers.
Nigel Millage was fined pounds 200 after Coventry magistrates yesterday took into account the fact he admitted the offences and was living on disability benefit - he could have been fined up to pounds 20,000 for each offence.
Grant quarterback Russell Millage broke three tackles in the backfield and scrambled for a 25-yard touchdown with less than a minute left as the Generals erased a 10-point halftime deficit for a thrilling 13-10 OSAA Class 4A playoff victory over the Colts at Franklin High School.
Smith missed the free throw - one of only two misses in 22 attempts by ASU - but Shawn Redhage grabbed the rebound and Curtis Millage hit an open 3-pointer for a five-point possession that put ASU ahead 59-51.