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What property is taxed?

Updated: 9/17/2019
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Wiki User

11y ago

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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.

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Pierce Farrell

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1y ago
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Sydney Kautzer

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1y ago

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.

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Wiki User

7y ago

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.

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Related questions

What property cannot be taxed?

Most schools, parks, and churches are unable to be taxed.


What are the 3 taxation strategies?

Capitation, property and taxed activities.


The process of determining the value of a property to be taxed is known as?

Assessment![:


WHAT WILL I BE TaxeD on funds from sell of property?

if you re-invest in another property within 2 years, there is no tax.


Which term defined as the process of determining the value of a property to be taxed?

ASSESSMENT :)


What term refers to the process of determining the values of a property to be taxed?

assessment


Which term is defined as the process of determining the value of a property to be taxed?

assessment


Which of these is the best description of an assessment?

It is the process used to determine the value of property to be taxed.


Is income indirectly taxed?

In the US, income is taxed directly as an income tax. It is, however, also taxed indirectly in the form of sales taxes and personal property taxes; a person who has more income is likely to also spend more money buying things (and therefore pay more sales tax) and own more and higher value personal property (and therefore pay more personal property tax).


Which of these is the best drescription of an assessement?

An assessment refers to the process used to ascertain the value of property to be taxed.


How did the magna carta change the way people taxed?

Prohibited the king from taking property or taxes without consent of a council.


If you backed into a vehicle that you suspected was not mot taxed or insurance would the owner still have a claim from you insurance company.?

Yes, You are still respnsible for the damage you cause to others. A suspicion that someone elses property may or may not be insured or properly taxed is irrelevant to the fact that you dmaged their property and are legally liable for those damages.