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Assessor's parcel number. An assessor's parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping. The assigned number is unique within the particular jurisdiction, and may conform to certain formatting standards that convey basic ...
Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...
In Southeast, for example, the tax roll grew by 8%, from $4.1 billion to $4.4 billion. But that does not mean that a homeowner’s property tax bill will rise 8%. That would depend on how much ...
Plat. A plat map that shows the location of a lot for sale. In the United States, a plat ( / plæt / [1] or / plɑːt /) [2] ( plan) is a cadastral map, drawn to scale, showing the divisions of a piece of land. United States General Land Office surveyors drafted township plats of Public Lands Surveys to show the distance and bearing between ...
A payment in lieu of taxes (usually abbreviated as PILOT, or sometimes as PILT [1]) is a payment made to compensate a government for some or all of the property tax revenue lost due to tax exempt ownership or use of real property .
Taxes can be confusing. But it's important to understand how real estate and property taxes work, especially if you own land, a home or a vehicle. While many people use the terms interchangeably ...
The estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax, applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased. Six states have "inheritance taxes" levied on the person who receives money ...
For example, benefit may mean a special adaptability of the land or a relief from some burden. Tax limited to real property. Only certain property can be specially assessed. The "property" to be assessed must be real estate as opposed to "personalty". Personalty is a taxation term which means personal property. Examples of personal property ...