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Property tax

Property tax is an ad valorem tax that an owner of real estate or other property pays on the value of the target of the tax. The taxing authority performs or requires an appraisal of the value of the property, and tax is assessed in proportion to that value. Forms of property tax used vary between countries. Examples are:

United Kingdom

There is currently no tax on residential property. Two former systems were dropped because of their extreme unpopularity. They were

United States

In the
United States, property tax on real estate is usually assessed by local government, at the municipal or county level.

Rising real estate property taxes were a cause of taxpayer revolt in the west; see California Proposition 13 (1978) and Oregon Ballot Measure 5 (1990) for more details.

In the US, another form of property tax is the personal property tax, which can target

Personal property tax can be assessed at almost any level of government, though they are perhaps most commonly assessed by states.

See also: Land Value Tax, California Proposition 13 (1978).

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