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 ?
Cash-strapped municipalities warned of collapse if they did not collect the municipal property tax for this year.
Last fall, the City of Temiskaming Shores was cited by the Canadian Federation of Independent Business as having one of the worst provincial education and municipal property tax regimes for business in Ontario.
-Creating a geographic information system based database for levying and collecting safayi taxes, the municipal property tax used to finance public services such as business licensing fees, public land sales and property leases.
Municipalities would be required to contribute to the program by providing full municipal property tax relief for all eligible businesses, as well as case-by-case assistance on municipal charges and fees.
One option I will never support is a municipal property tax. Oak Brook needs to remain business friendly, and low taxes attract and keep new businesses.
Contract notice: Awarding concessions for assessment for recovery evasion of municipal property tax (ici), its council tax (imu), local municipal solid waste (tarsu), municipal tax on waste and services (tares) waste tax (tari) local advertising tax (icp), the duties on public billboards (dpa), the fee for the occupation of public spaces and areas (cosap) - cig 6272873a8c.
As part of the program, municipalities will also be asked to provide full municipal property tax relief for all eligible businesses.
With plenty of decisions to make about redevelopment, preserving the strength of retail and commercial destinations in Oak Brook, avoiding a municipal property tax and ensuring funding for pension payments, Baar said it's an important time for local government to function at top capacity.
Open procedure for the concession of the collection service, even coercive of the following municipal taxes: Municipal property tax / Municipal Tax Proper, Tax Services indivisible, public land occupation tax, tax on advertising and bill-posting rights.
On a $200,000 property, that would mean a $2,464 municipal property tax bill for a residence, but a $5,116 bill (on average) for a commercial property, and a bill of $8,264 (on average) for an industrial property.
With pressure from e-commerce and other factors a constant threat to the village's sales tax revenue -- the lifeblood for the town with no municipal property tax -- steps are underway to strengthen and expand what perennially ranks among the top retail bases in Lake County.
Contract notice: Custody of the collection service, even coercive, municipal property tax / municipal tax of its own, the tax on services indivisible fee occupation of public, of the advertising tax and bill-posting.

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