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Property Tax is a tax issued on the ownership of property. A
property tax is imposed by municipalities based on the estimated value
of the property. Property tax is an ad valorem tax that an owner of
real estate or other property pays on the value of the property taxed.
The taxing authority performs or requires an appraisal of the value of
the property. Tax is assessed in proportion to the appraised value.
Forms of property tax used vary between countries, jurisdictions, and
municipalities. |
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