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It does not seem unreasonable that people who own property should contribute toward municipal expenses. Of course, we can still question exactly how much tax is an appropriate level, or what kinds of municipal spending is appropriate, and whether we should have a more inclusive tax instead, that taxes everyone equally whether they own property or not. All political issues (much like religious issues) are endlessly debatable and are endlessly debated.
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What is the property tax rate in British Columbia?
Property Transfer Tax RatesThe amount of tax due depends on the fair market value of the property that is transferred:If the fair market value is $200,000 or less, the tax is 1% of the fairmarketvalue.If the fair market value is greater than $200,000, the tax is 1% of the fairmarket value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000.For example:if fair market value of property is $150,000tax payable is: 1% of $150,000 = $1,500if fair market value of property is $250,000 tax payable is: 1% of $200,000 = $2,000 plus 2% of $50,000 = $1,000 for total tax payable of $3,000
A tax on real estate or personal property?
Property tax
Is property tax considered a direct tax?
property tax is considered as direct tax effect of property tax directly falls to the owner.
A tax on the ownership of land or buildings is what type of tax?
Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.
Regular income tax Fair tax Flat tax which would be your choice?
flat income tax
Is property tax direct or indirect tax?
A property tax (or millage tax) is levied on the value of property, an ad valorem tax that the owner is required to pay. It is a direct tax.
What makes a tax fair?
a tax is fair is the persons who is being taxed have representitves in Parliament.
Who pays the property tax if the property is used as commercial?
The state pays the property tax.
Property tax may be levied on what type of property?
Property tax is defined by the Tax Foundation as the tax that is imposed on immovable property like land and buildings, as well as on movable property, like vehicles and equipment.
Where can I find information on how much my property tax is?
You can check out the information at your local tax office, you can find out about your property. The tax is made up of the property values in your state and in your area which determines your property tax.
How do you Save My Property Tax in Michigan?
If you own a property and if you feel that your property is overtaxed. Then the best way is property tax appeal. You can even hire a Property tax lawyer who can help you to reduce your property taxes.
What is the major difference between property tax and profit tax?
Property taxes are assessed based on the value of the property in question. This is also referred as ad valorem tax. The owner of the property does not sell or transfer the property in question and the tax is usually assessed every year. Profit tax is a tax assessed based on the transfer of property or a commodity.
