|An aspect of fiscal policy|
A property tax or millage rateis an ad valorem tax on the value of a property, usually levied on real estate. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property. This tax can be contrasted to a rent tax which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements.
An ad valorem tax is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ad valorem tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event. In some countries a stamp duty is imposed as an ad valorem tax.
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing." It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, England, Wales, Northern Ireland, United States, Canada, Pakistan, Australia, and New Zealand.
A federated state is a territorial and constitutional community forming part of a federation. Such states differ from fully sovereign states, in that they do not have full sovereign powers, as the sovereign powers have been divided between the federated states and the central or federal government. Importantly, federated states do not have standing as entities of international law. Instead, the federal union as a single entity is the sovereign state for purposes of international law. Depending on the constitutional structure of a particular federation, a federated state can hold various degrees of legislative, judicial and administrative jurisdiction over a defined geographic territory and is a form of regional government.
Under a property-tax system, the government requires or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value, for real property. Real estate transactions often require appraisals because they occur infrequently and every property is unique, unlike corporate stocks, which are traded daily and are identical. The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
The four broad types of property taxes are land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects) and intangible property. Real property (also called real estate or realty) is the combination of land and improvements.
Intangible property, also known as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property. It generally refers to statutory creations such as copyright, trademarks, or patents. It excludes tangible property like real property and personal property. In some jurisdictions intangible property are referred to as choses in action. Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property and competitive intangible property. Competitive intangible property disobeys the intellectual property test of voluntary extinguishment and therefore results in the sources that create intellectual property escaping quantification.
In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property was, and continues to be, all property that is not real property.
Forms of property tax vary across jurisdictions. Real property is often taxed based on its class. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of property classes are residential, commercial, industrial and vacant real property.In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments.
Israel, also known as the State of Israel, is a country in Western Asia, located on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea. It has land borders with Lebanon to the north, Syria to the northeast, Jordan on the east, the Palestinian territories of the West Bank and Gaza Strip to the east and west, respectively, and Egypt to the southwest. The country contains geographically diverse features within its relatively small area. Israel's economic and technological center is Tel Aviv, while its seat of government and proclaimed capital is Jerusalem, although the state's sovereignty over Jerusalem has only partial recognition.
A special assessment tax is sometimes confused with property tax. These are two distinct forms of taxation: one ( ad valorem tax ) relies upon the fair market value of the property. The other (special assessment) relies upon a special enhancement called a "benefit" for its justification.
Special assessment is the term used in the United States to designate a unique charge that government units can assess against real estate parcels for certain public projects. This charge is levied in a specific geographic area known as a special assessment district (SAD). A special assessment may only be levied against parcels of real estate which have been identified as having received a direct and unique "benefit" from the public project.
Fair market value (FMV) is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. An estimate of fair market value may be founded either on precedent or extrapolation. Fair market value differs from the intrinsic value that an individual may place on the same asset based on their own preferences and circumstances.
The property tax rate is typically given as a percentage. It may be expressed as a per mil (amount of tax per thousand currency units of property value), which is also known as a millage rate or mill (one-thousandth of a currency unit). To calculate the property tax, the authority multiplies the assessed value by the mill rate and then divides by 1,000. For example, a property with an assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.
In mathematics, a percentage is a number or ratio expressed as a fraction of 100. It is often denoted using the percent sign, "%", or the abbreviations "pct.", "pct"; sometimes the abbreviation "pc" is also used. A percentage is a dimensionless number.
Property classes, tax rates, assessment rules and valuations vary by jurisdiction.
Australian property is taxed at both the state and council (local municipal) level. Taxes are payable by property owners - there is no property tax charged to renters.
A state tax commonly called "stamp duty" is assessed when is property is purchased or transferred. It is typically around 5% of the purchase price, payable by the purchaser. Other transfer charges may also apply, including special fees for investors from overseas.
"Land tax" - also a state tax - is assessed every year on a property's value. Most Australians do not pay land tax, as most states provide a land tax exemption for the primary home or residence. Depending on the state, surcharge tax rates can apply to foreign owners.
"Council rates" is a municipal tax levied by local government. This is assessed each year on a property's value. Council rates are around $1300 per annum for an average Australian household.
Brazil is a Federation Republic, and its federated entities (internal States and Municipalities), as well as the Federal government, levy property taxes. They are all declared in the Federal Constitution.
These are the current property taxes:
Many provinces levy property tax on real estate based upon land use and value. This is the major source of revenue for most municipal governments. While property tax levels vary across municipalities, a common property assessment or valuation criteria is laid out in provincial legislation. The trend is to use a market value standard for valuation purposes with varying revaluation cycles. Multiple provinces established an annual reassessment cycle where market activity warrants, while others have longer periods between valuation periods.
In Ontario, for most properties (e.g., residential, farms), property taxes can be calculated by multiplying the phased-in assessment indicated on the Property Assessment Notice by the tax rate.
The municipal tax rate x phased-in assessment for the particular taxation year = municipal portion of tax.
The county/regional tax rate x phased-in assessment for the particular taxation year = county/regional portion of tax.
The education tax rate x phased-in assessment for the particular taxation year = education portion of tax.
The municipal portion of tax + county/regional portion of tax + education portion of tax = Total Property Tax.
In some cases (e.g., commercial, industrial, multi-residential properties), the Province or municipality may implement measures that affect the actual taxes paid on a property.
Land transfer tax is a provincial tax levied when purchasing a home or land in Canada. All provinces have a land transfer tax, except Alberta and Saskatchewan. In most provinces the tax is calculated as a percentage of the purchase price. In Toronto there is an additional municipal tax.
Ontario, British Columbia, Prince Edward Island and the City of Toronto offer land transfer tax rebates for first-time homebuyers.
In British Columbia the property transfer tax is equal to one percent tax on the first $200,000 of the purchase price, two percent on the remaining amount up to $2 million and three percent on the rest.An additional 15% tax that applies only to non-resident foreign home buyers in Greater Vancouver started on August 2, 2016. The definition of foreign buyer includes international students and temporary foreign workers. Anti-avoidance measures include fines of $100,000 for individuals and $200,000 for corporations.
The First Time Home Buyers Program is a program by the BC government that offers qualifying first-time homebuyers a reduction or elimination of the property transfer tax. It can be used in conjunction with the B.C. Home Owner Mortgage and Equity Partnership.
The First Time Home Buyers Tax Credit is also available in Ontario, which offers First Time Home Buyers a 750 dollar tax Rebate. In 2017 the Ontario Government also released the Land Transfer Tax Rebate, which allowed for up to 4,000 dollar rebate - ensuring that first time home buyers of homes valued under 368,000 dollars would not pay land transfer tax.
The Newly Built Home Exemption is a program that reduces or eliminates the property transfer tax on new homes. The amount is limited to $13,000 for qualifying individuals who must be either a Canadian citizen or a permanent resident. The property purchased must be located in British Columbia, have a fair market value of $750,000, be smaller than 1.25 acres and be used as a principle residence. It can be used in conjunction with the B.C. Home Owner Mortgage and Equity Partnership.
The land property tax, called "territorial tax" or "contribution", is an annual amount paid quarterly by the property's owner. It is determined as a percentage of the property's "fiscal value", which is calculated by the Internal Revenue Service, based on the property's land and built area, construction materials, age, and use. The fiscal value, which is usually much lower than the market value, may be disputed by the owner. The annual levy varies between 1 and 2% of this value, depending on the property's use (residential, agricultural or commercial). Residential properties valued below US$40K (as of 2013) are not taxed; those above that threshold are taxed only on the amount exceeding US$40K.Revenues go to the municipality administering the property's commune. All municipalities contribute a share of the revenue to a "common municipal fund" that is then redistributed back to municipalities according to a their needs (commune's poverty rate, etc.). Additionally, municipalities charge a quarterly trash collection tax, which is often paid together with the territorial tax (if applicable).
The law imposes a tax on each property. Public buildings are excluded (such as government buildings), as are religious buildings (mosques and churches). Families owning private properties worth up to LE 2 million ($290,000) are exempt. commercial stores with an annual rent value over LE 1,200 are not exempt.
Greece has a Municipal and a Government property tax. The municipal property tax (ΤΑΠ/ΔΤ/ΔΦ) is included in electricity bills and incorporates, among others, charges for street cleaning and lighting. The Government property tax (ENFIA) is a combination of the individual asset's tax based upon floor-area and a progressive real-estate wealth tax per individual which is based on the estimated net-worth of all properties and can reach 2%.
In Hong Kong, the "property tax" is not an ad valorem tax ; it is actually an income tax.
According to HK Inland Revenue Ordinance IRO s5B, all property owners are not subject to this tax unless they received a consideration, like rental income for the year of assessment. The property tax is computed on the net assessable value at the standard rate. The period of assessment is from 1 April to 31 March.
The formula is:
Property tax or 'house tax' is a local tax on buildings, along with appurtenant land. It is an imposed on the Possessor (not the custodian of property as per 1978, 44th amendment of the constitution). It resembles the US-type wealth tax and differs from the excise-type UK rate. The tax power is vested in the states and is delegated to local bodies, specifying the valuation method, rate band, and collection procedures. The tax base is the annual rental value (ARV) or area-based rating. Owner-occupied and other properties not producing rent are assessed on cost and then converted into ARV by applying a percentage of cost, usually four percent. Vacant land is generally exempt. Central government properties are e exempt. Instead a 'service charge' is permissible under executive order. Properties of foreign missions also enjoy tax exemption without requiring reciprocity. The tax is usually accompanied by service taxes, e.g., water tax, drainage tax, conservancy (sanitation) tax, lighting tax, all using the same tax base. The rate structure is flat on rural (panchayat) properties, but in the urban (municipal) areas it is mildly progressive with about 80% of assessments falling in the first two brackets.
A Local Property Tax came into effect in Republic of Ireland on 1 July 2013, and is collected by the Revenue Commissioners. The tax is on residential properties. The property owner is liable (though in the case of leases over twenty years, the tenant is liable). The revenue funds the provision of services by local authorities. Such services currently include public parks, libraries, open spaces and leisure amenities, planning and development, fire and emergency services, maintenance and street cleaning and lighting.
The tax is based upon market value, taxed via a system of market bands. The initial national central rate of the tax is 0.18% of a property's value up to €1 million. Properties valued over €1 million are assessed 0.25% on the excess. From 1 January 2015, local authorities are able to vary LPT rates -/+ 15% of the national central rate.
In the case of properties valued over €1 million, no banding applies – 0.18% is charged on the first €1 million (€1,800) and 0.25% on the balance. The government estimates that 85% to 90% of all properties fall within the first five taxation bands.
This tax is paid annually and is based on a percentage of the unimproved value of a property.
The tax period for a property tax is a calendar year. Property tax rate ranging from 0.3% to 1% the tax value of real estate is determined by the municipality.
Since January 1, 2015 if the person's property value is higher than 220,000 euros, 0.5 per cent of property tax is applied for exceeding amount.
Property tax in Luxembourg is calculated on the basis of the property's "unitary value" determined by tax authorities and levied by the communes. The tax is calculated as property unitary value * assessment rate * communal rate. The assessment rate is determined by the legislator and generally ranges from 0.7% to 1%. The communal rate is set by the communal authority and varies from 120% to 900% depending on the municipality.
Luxembourg has minimal property taxes compared to its neighbours in Benelux or in the European Union. It amounts to more or less €150 for a €500 000 apartment in Luxembourg City.
There are two types of property tax in the Czech Republic: tax on estate and tax on real estate.
The subjects of the tax on estate are all estates in the legislation of the Czech Republic except from particular exceptions: estates which are covered by taxed real estates (these estates are not taxed only on that part where the real estate is located), forests, body of water, estates with the goal of defence the country.The payer of the tax is the owner on this particular estate. There are different types of taxes on estate depending on its purpose(fields have lower coefficient than estates denoted for industry).There is a difference in the tax on building sites. Building sides with no real estate on it have constant coefficient 2 Kč for 1 metre squared whereas buildings sites with real property (those part of the building sites which are not covered by that particular real property) are taxed according to number of citizens and location of particular village/town/city.
The subjects of the tax on real estate are all buildings and accommodation units in the legislation of the Czech Republic apart from those buildings composed of accommodation units that are already taxed(block of flats,...). The payer is again the owner of the real estate. The tax base from buildings and accommodations units is the are of the built-up surface.
Facts for both taxes:
1) All earnings stemming from property tax (paid by payers of taxes) in particular village/town/city goes via tax office back to that particular village/town/city
2) Every village/town/city has an authorization for adjusting its coefficient on property tax (they are 1, 2, 3, 4, 5 - which means how many times the originally assessed tax will be multiplied)
3) Tax year is the calendar year
4) Tax return must be handed by the end of January of the tax year. If payer did it in the previous tax year and circumstances of taxes did not change, then the payer does not have to hand tax return and the tax is assessed automatically by the relevant authority
5) Tax is in two exactly the same repayments by the end of May and November respectively. (As far as normal non businesses are concerned)
Important notion: There is a difference between the person who pays tax physically and the person holds the tax burden. In this type of tax in the Czech Republic it is always the same person, that is why it is omitted.
Property tax (Dutch: Onroerendezaakbelasting (OZB)) is levied on property on a municipal basis. Only the owners of residential property and people who rent/own commercial space are taxed. People who rent a home do not pay property tax. Municipalities combine their property taxes with a tax for garbage collection and for the sewer system. Owners and users of property and land also pay taxes based on the value of property to the water boards for flood protection and water and wastewater treatment ("waterschapsbelasting"). A percentage of the value of a house ("huurwaardeforfait") is added to the income of the owner, so the owner of a house pays more income tax. All property-related taxes are based on the value of the house estimated by the municipality.
In the UK the ownership of residential property or land is not taxed, a situation almost unique in the OECD.Instead, the Council Tax is usually paid by the resident of a property, and only in the case of unoccupied property does the owner become liable to pay it (although owners can often obtain a discount or an exemption for empty properties).
Her Majesty's Revenue and Customs (HMRC) guidelines state:
The Valuation Tribunal Service states that:
There have been a lot of property tax changes since the introduction of the 2015/16 budget. Changes to Section 24 mortgage interest relief, removal of the 10% wear & tear allowance, and the maintenance of high rates of Capital Gains Tax (CGT). These changes have resulted in UK landlords paying a lot more tax than previously.
The Council Tax depends on the value of the property, but is not calculated as a simple percentage. Instead, the property is allocated to a Council Tax band, (9 in England and 8 in Scotland and Wales). Valuation is carried out by the Valuation Office Agency under the auspices of Her Majesty's Revenue and Customs (HMRC).
Additionally, when purchasing a property, the UK government levies "Stamp Duty Land Tax|https://www.gov.uk/stamp-duty-land-tax" (SDLT, commonly known as just 'stamp duty') on homes over the value of £125,000. The Stamp Duty payable is referenced to the price of the house, splitting the levies due into percentages of the value increments of the house. Stamp Duty is eliminated on properties £300,000 or under for first-time buyers, and if the value of the property for a first-time buyer exceeds this, they pay a percentage of the amount that is over the £300,000 maximum value.
In the United States, property tax on real estate is usually levied by local government, at the municipal or county level. Rates vary across the states, between about 0% and 4% of the home value.The assessment is made up of two components—the improvement or building value and the land or site value. The property tax is the main tax supporting local education, police/fire protection, local governments, some free medical services and most of other local infrastructure. Many state and local jurisdictions add personal property taxes. (See exceptions below.)
Taxation has existed since the existence of civilization. Originally before the presence of monetary system, taxes were mostly paid as a percentage of crops raised. Later, the property tax of ancient world, parts of medieval Europe and American colonies was rather based on the area of the property rather than on its value. Finally, the property's gross output (e.g. annual income) were used used as the base of taxation.
The first ever tax records, dating from about six thousand years B.C., were in the form of soil tablets which were found in city-state of Lagash (Now in the territory of current Iraq). The system was called bala (rotation). It was such that each month one particular area of city was taxed, which allowed to make such arduous task less difficult. In Ancient Egypt the taxes were levied against the value of grain, cattle, oil, beer and also land. By that time only one person out of 100 were literate. Some of these people were tax assessors. They kept records about owners of land along with its size. They collected annual data by calculating cattle and checking the crop yields. If the taxpayer was not able to pay the tax, he was brought before the court. Tax assessors were highly respected people due to their ability and skills.
In England in the 11th century the taxes on land were paid by peasants who rented that land from its owner. The more productive the land was the higher the rent was. During the 1170s, William the Conqueror established an early form of land taxation. It was common that cities kept records of the owner of the property. Each parcel got measured and got estimated. Later, after 1215, King John was limited in his power to raise revenue, so from this point taxes could be collected with permission of his barons. After 1290 normal people started being obeyed paying this type of tax based on the location the resied (higher for those in cities and lower for rural residents) In 16th century even king's own land was also taxed. King's power with taxation got even weaker right after 1689 when the new law was introduced meaning that he could not tax without Parliament's permission.With regard to current are of USA, the Pilgrims landed at Plymouth and started building their city in 1620. After threats from locals they built a fort. Pilgrims formed a pact to protect themselves and also set laws including taxation and assessments. All people were allocated equal proportion of land from which they had to pay tax.
In Boston, property tax was implemented by Puritans for paying the expense of church and religious education. Every person paid this property tax regardless of one's religion. This particular system lasted for more than one hundred years. The assessor of the tax was sheriff. The system of evidence was similar to England (assessors kept records of personal estate). The situation of the citizen was taken into account as far as the property tax was concerned – meaning that a widow with children was not only forgiven property tax but also was guaranteed to receive a certain amount of money monthly. On the other hand, people who destroyed public property had to pay the cost of repairs with property tax.
After establishing USA in 1776 taxes were raised in most regions (mostly through property). Later, the central Government found out that this system did not work as far more was spent than received from this measure. At the end of the 18th century, there was a dispute between Alexander Hamilton and Thomas Jefferson. The camp of Hamilton was for raising taxes (mainly property tax) centrally in order to increase the capacity of budget (also power) of the Government. The camp of Jefferson was for raising revenue locally as it “sounded“ more like a concept of democracy. Hamilton was great as far as finance were concerned, he helped to establish the capitalist system that exists up to this moment, however, the financial strategy mentioned above (high property tax) was disaster for him.Higher taxes (especially property) was finally established during the concerns whether the war with France would happen or not. National property tax was enacted by Congress apportioned by population. There were many protests until the tax was finally repealed. On the other hand, the trend of raising the local property tax continued as local governments were able to raise their revenue by this measure. By the of the 19th century, the tax collector was still sheriff.
At the beginning of the 20th century it was found out that the tax system in US could not equitably tax the complicated economy. Many reforms were implemented (trying to reduce reliance on property taxes). The most important one was concerned with new narrow personal property tax was established especially for homeowners and intangible assets. A lot US presidents tried to push for lower property tax and for the implementation of income tax. By the time of the Great Depression, the property tax collection rates dropped as people's income decreased steeply. The Governments mostly cut property tax and implemented sales taxes. After the Great Depression, many movements were formed for addressing claims on the Government with real tax reforms, many of these were approved and has been in go since then.
In Alaska, "...only a small portion of the land mass is subject to a property tax. ...only 24 municipalities in Alaska (either cities or boroughs) levy a property tax." However, the vast majority of revenue for local governments comes from property taxes.There is no tax on the private land in American Samoa, the Territory of Palmyra Island or Kingman Reef in the Pacific Ocean insular areas.
A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. The first known taxation took place in Ancient Egypt around 3000–2800 BC.
A land/location value tax (LVT), also called a site valuation tax, split rate tax, or site-value rating, is an ad valorem levy on the unimproved value of land. Unlike property taxes, it disregards the value of buildings, personal property and other improvements to real estate. A land value tax is generally favored by economists as it does not cause economic inefficiency, and it tends to reduce inequality.
Proposition 13 was an amendment of the Constitution of California enacted during 1978, by means of the initiative process. The initiative was approved by California voters on June 6, 1978. It was upheld as constitutional by the United States Supreme Court in the case of Nordlinger v. Hahn, 505 U.S. 1 (1992). Proposition 13 is embodied in Article XIII A of the Constitution of the State of California.
Rates are a type of property tax system in the United Kingdom, and in places with systems deriving from the British one, the proceeds of which are used to fund local government. Some other countries have taxes with a more or less comparable role, like France's taxe d'habitation.
A wealth tax is a levy on the total value of personal assets, including bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts. Typically, liabilities are deducted from an individual's wealth, hence it is sometimes called a net wealth tax.
Affordability of housing in the UK reflects the ability to rent or buy property. Housing tenure in the UK has the following main types: Owner-occupied; Private Rented Sector (PRS); and Social Rented Sector (SRS). The affordability of housing in the UK varies widely on a regional basis – house prices and rents will differ as a result of market factors such as the state of the local economy, transport links and the supply of housing.
Tax revenue is the income that is gained by governments through taxation. Taxation is the primary source of income for a state. Revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources and/or foreign aid. An inefficient collection of taxes is greater in countries characterized by poverty, a large agricultural sector and large amounts of foreign aid.
Proposition 2½ is a Massachusetts statute that limits property tax assessments and, secondarily, automobile excise tax levies by Massachusetts municipalities. The name of the initiative refers to the 2.5% ceiling on total property taxes annually as well as the 2.5% limit on property tax increases. It was passed by ballot measure, specifically called an initiative petition within Massachusetts state law for any form of referendum voting, in 1980 and went into effect in 1982. The effort to enact the proposition was led by the anti-tax group Citizens for Limited Taxation. It is similar to other "tax revolt" measures passed around the same time in other parts of the United States. This particular proposition followed the movements of states such as California.
Taxes in India are levied by the Central Government and the state governments. Some minor taxes are also levied by the local authorities such as the Municipality.
Community Facilities Districts (CFDs), more commonly known as Mello-Roos, are special districts established by local governments in California as a means of obtaining additional public funding. Counties, cities, special districts, joint powers authority, and schools districts in California use these financing districts to pay for public works and some public services.
Taxation in the British Virgin Islands is relatively simple by comparative standards; photocopies of all of the tax laws of the British Virgin Islands would together amount to about 200 pages of paper. Taxation in the British Virgin Islands is mostly notable for what is not subject to taxation. The British Virgin Islands has:
Taxation in Denmark consists of a comprehensive system of direct and indirect taxes. Ever since the income tax was introduced in Denmark via a fundamental tax reform in 1903, it has been a fundamental pillar in the Danish tax system. Today various personal and corporate income taxes yield around two thirds of the total Danish tax revenues, indirect taxes being responsible for the last third. The state personal income tax is a progressive tax while the municipal income tax is a proportional tax above a certain income level.
Boyer v. Boyer, 113 U.S. 689 (1885), was a suit in error brought in a state court of Pennsylvania for an injunction restraining the commissioners of Schuylkill County from levying a county tax for the year 1883 upon certain shares in the Pennsylvania National Bank, an association organized under the National Banking Act. The suit proceeds upon the ground that such levy violates the act of Congress prescribing conditions upon state taxation of national bank shares in this, that "other moneyed capital in the hands of individual citizens" of that county is exempted by the laws of Pennsylvania from such taxation. A demurrer to the bill was sustained and the suit was dismissed. Upon appeal to the Supreme Court of Pennsylvania, that judgment was affirmed on the ground that the laws of the state under which the defendants sought to justify the taxation were not repugnant to the act of Congress.
In Austria, taxes are levied by the state and the tax revenue in Austria was 42.7% of GDP in 2016 according to the World Bank The most important revenue source for the government is the income tax, corporate tax, social security contributions, value added tax and tax on goods and services. Another important taxes are municipal tax, real-estate tax, vehicle insurance tax, property tax, tobacco tax. There exists no property tax and a Gift tax and inheritance tax were cancelled in 2008. Furthermore, self-employed persons can use a tax allowance of €3,900 per year. The tax period is set for a calendar year. However, there is a possibility of having an exception but a permission of the tax authority must be received. The Financial Secrecy Index ranks Austria as the 35th safest tax haven in the world.
Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. 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 times an assessment ratio times a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners. For the taxing authority, one advantage of the property tax over the sales tax or income tax is that the revenue always equals the tax levy, unlike the other taxes. The property tax typically produces the required revenue for municipalities' tax levies. A disadvantage to the taxpayer is that the tax liability is fixed, while the taxpayer's income is not.
Taxation in Norway is levied by the central government, the county municipality (fylkeskommune) and the municipality (kommune). In 2012 the total tax revenue was 42.2% of the gross domestic product (GDP). Many direct and indirect taxes exist. The most important taxes — in terms of revenue — are VAT, income tax in the petroleum sector, employers’ social security contributions and tax on "ordinary income" for persons. Most direct taxes are collected by the Norwegian Tax Administration (Skatteetaten) and most indirect taxes are collected by the Norwegian Customs and Excise Authorities.
Rates are a tax on property in the United Kingdom used to fund local government. Business rates are collected throughout the United Kingdom. Domestic rates are collected in Northern Ireland and were collected in England and Wales before 1990 and in Scotland before 1989.
Joseph Jay "J. J." Pastoriza was a printer, real estate investor, and politician in Houston, Texas. He served both as Houston's Tax Commissioner and Mayor. Pastoriza was the first Hispanic mayor of the city of Houston. Pastoriza was orphaned and adopted as a young child in Houston. He started working in the printing business at about age twenty before establishing his own stationery and print shop.