Property Tax

(redirected from millage)
Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.
Related to millage: Millage tax

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.

V. V. KUROCHKIN

References in periodicals archive ?
The first step in undertaking any millage campaign is putting the tax measure on the ballot.
The last four operating millages have been passed on the first attempt and voters have not rejected a millage since 1990.
In spite of a series of severe budget reductions, including the elimination of $6 million in funding from the State of Michigan, the Detroit Public Library is proud to say that we made good on our promises to the people of Detroit during the 2000 millage election," said Skowronski.
If this referendum is not approved, the district financial profile could become challenged as its capital improvement plan totals $240 million, and current revenues from the capital outlay millage are almost entirely allocated to paying debt service on the outstanding COPs.
The increase would have generated about $128 million and pushed the district's millage to 50.
3%, 3-point baskets - 3-8 (Hill 2-2, Braxton 1-1, Millage 0-3, Knight 0-1, Redhage 0-1).
Mrs Millage, a telephonist at Peugeot, said: "It was great news and it gave me an excuse to root through Matthew's room and get rid of the toys he's stopped playing with.
PASSAGE OF ADDITIONAL MILLAGE CRUCIAL TO OPERATIONS: The downgrades and Rating Watch Negative reflect Fitch's concerns that without the passage of an additional millage, debt service payments for the special assessment bonds will deplete available reserves and significantly increase the probability of a default.
The millage increase will allow the county to maintain its current level of services, he said.
Mark Millage begins full duties at the Sioux Falls institution on May 19.
However, ASU's Millage hit a 3-pointer with 2:30 left that made it 72-69.