Related Words

Property Tax: Local tax assessed on property owned, such as real estate or automobiles.

Real Property Tax: A real property tax is a local tax on the value of real estate. The property may be assessed at full value, which is presumably the price that the owner could sell it for in the current mark . . . View Full Definition

Tax-Exempt Money Market Fund: Levies on the annual income of a business imposed by federal and state governments. On the income statement, this figure does not include property taxes, which are considered an operating expense.

Transfer Tax: A state tax imposed on the transfer or conveyance of realty or any realty interest by means of deed, lease, sublease, assignment, contract for deed or similar instrument. One purpose of the . . . View Full Definition

Classified Property Tax: Property tax which varies in rate depending on the use of the propertyCredit Credit is an agreement in which a borrower receives something of value now and agrees to repay the lender later.

Property Taxes: Assessment made by county or city assessors office for real property taxes. Payment dates may vary according to state regulation.

Tax Basis: The assessed value of the taxable property, assets, and income within a specific geographic area.

Tax Base: Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accounts, and trusts. Compare with tax evasion.

Tax Bill: A property owners tax bill is computed by applying the tax rate to the assessed valuation of the property.

Tax Books: In the context of finance, the original cost of an asset less depreciation that is used to determine gains or losses for tax purposes. In the context of investments, the price of a stock or . . . View Full Definition