definition
strict definition
property tax
The total annual property taxes levied by the applicable governments and owed by the property owner.
The property tax on a property is the amount of money levied on it per year by the government, and therefore owed to the government by the owner. In the event that multiple governments (e.g. county and state) levy taxes on a property at the same time, this figure expresses the total of those taxes.
The figure is an annual tax amount for the property. If several governments levy property taxes concurrently, their amounts form the combined total described here.
An assessed value is a valuation that may be used for taxation. The value of the property and the amount of tax levied on it are different monetary facts.
Related definitions
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assessed value
A property value established by an official government assessment at a given time, usually for taxation. -
brokerage commission
A service fee paid to an agent for the successful completion of a transaction. -
construction cost $
The total costs of construction in US Dollars as recorded at the time of completion. -
construction cost CHF
The total costs of construction in Swiss Francs as recorded at the time of completion. -
construction cost RMB
The total costs of construction in Chinese Renminbi as recorded at the time of completion. -
construction cost £
The total costs of construction in Pounds Sterling as recorded at the time of completion. -
construction cost ¥
The total costs of construction in Japanese Yen as recorded at the time of completion. -
construction cost €
The total costs of construction in Euros as recorded at the time of completion. -
demolition cost
The amount spent or projected for a complete or partial demolition project, according to the date of the figure. -
deposit
An amount of money presented to the owner as a security when leasing a property. -
land cost
The asking or paid price of a property's land at a given time, apart from the value of structures on it. -
renovation cost
The amount spent or projected for one renovation project, separated in time from other construction or alteration work. -
rental cost
The price charged to tenants per measured square unit to rent space in a structure. -
revenue
Monetary figures describing earnings or value received by a structure, company, land area, or other object. -
sales cost
The asking or agreed sale price of property expressed per square meter or square foot of floor space.