Property tax | Wikipedia audio article
Channel: wikipedia tts
Date: 28/11/2018

This is an audio version of the Wikipedia Article:
Property tax

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SUMMARY
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A house tax or millage rate is an ad valorem tax on the value of a house, usually levied on real estate. The tax is levied by the governing authority of the jurisdiction in which the house 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 house. 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.
Under a house-tax system, the government requires or performs an appraisal of the monetary value of each house, and tax is assessed in proportion to that value.