Difference between revisions of "Property tax"
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| − | '''Property tax''' is a tax levied on land and buildings ([[real estate]]) and on [[personal property]]. In the U.S. it is typically the main source of revenue for local government. | + | '''Property tax''' is a tax levied on land and buildings ([[real estate]]) and on [[personal property]]. In the U.S. it is typically the main source of revenue for local government. High property taxes have the effect of depressing property values and ironically lowering tax revenues. |
Revision as of 21:58, April 10, 2010
Property tax is a tax levied on land and buildings (real estate) and on personal property. In the U.S. it is typically the main source of revenue for local government. High property taxes have the effect of depressing property values and ironically lowering tax revenues.