Depending on the state or province (United States or Canada) you could have property taxes on the value of your personal property (household property may qualify, but typically personal property taxes are on business equipment and machinery) or real estate (single family detached homes, townhouses, and condominiums. In all of these cases the assessed value represents the estimated value of the property on tax day. The assessed value is then multiplied by a tax rate that is set by the local governing body as part of their budget process to fund local services like education, police and fire protection, etc.
Before 1920, most taxes were assessed on property. When all taxes are based on property, it makes sense to restrict voting to property owners. When non-property owners are voting on property TAXES, the non-owner is has no reason not to vote for higher taxes that he won't be paying. Since the advent of the income tax, even people who don't own property are paying taxes, so the voter rolls needed to be expanded. Here in 2014, the disconnect between paying taxes and voting is becoming bad again.
Nevada
AnswerThrough excise taxes (taxes on businesses), import/export taxes, transaction taxes (taxes on property transfers), sales taxes, property taxes, etc. etc. The government has taxed pretty much everything throughout its time. Heck, they even tax your property when you die (estate taxes).
Hai should expect to pay 5% less on the 630 = (630-31.50) or $598.50
New Jersey.
There are many taxes that are not determined by your income:sales taxes, property taxes, tariffs, excise taxes, capitation or "head" taxes, etc.
Generally, property tax is not determined based on a mortgage. If you owe a mortgage on your home or if it is paid in full, the property taxes will be the same. The difference for you is that you will need to track and pay the taxes yourself, instead of letting the mortgage company pay the taxes from your escrow account.
The property taxes and mill rate is determined by county, city, and municipality. Contacting the taxation department in the local area should be able to provide this information.
how are federal taxes determined
To find out specific property tax rates in Dalton Road, Cato, N.Y., you can contact the town assessor's office or visit their website for accurate information. Property tax rates can vary based on local regulations and assessments, so it's best to check directly with the local authorities.
The same as today: they determined the value of a person's property, and thus how much they would have to pay in taxes.
Property taxes are typically determined by local governments, such as cities, counties, or municipalities. These entities assess the value of properties within their jurisdiction and set tax rates based on that value. The exact process and authority for determining property taxes can vary from place to place.
Property taxes
Property Taxes
Property taxes are taxes on the value of owned property. Sometimes they are classified as either specific or ad. Property Specific taxes are of a fixed amount based on a number, or standard of weight or measurement. Ad property taxes are based on a fixed proportion of the value of the property with respect to which the tax is assessed.
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Under most all tax systems (I'm sure there are exceptions), the millage unit is used for determining taxes of all types of property, real or personal. It may be a different amount for any particular type of property to another...even Commercial Real Estate to Industrial or Residential....or personal property where Cars compared to household may have a different rate. Millage: A tax rate on property, expressed in mills per dollar of value of the property.