The estate tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death.
Frequently Asked Questions on Estate Taxes
Find some of the more common questions dealing with basic estate tax issues.
If you give someone money or property during your life, you may be subject to federal gift tax.
Frequently Asked Questions on Gift Taxes
Find some of the more common questions dealing with gift tax issues as well as some examples of how different types of gifts are treated.
Filing Estate and Gift Tax Returns
Learn when to file estate and gift taxes, where to send your returns, and get contact information if you need help.
Tax Tips - Real Estate
This section contains information on topics such as tax credits, rental income and expenses and the sale of your residence.
Avoiding Problems - Real Estate
This section contains important information on recordkeeping and warns you of fraudulent real estate schemes.
Trends and Statistics - Real Estate
This site provides industry specific and general survey results that should be of interest to the small business owner.
Audit Technique Guides - Real Estate
The IRS Market Segment Specialization Program (MSSP) publishes various guides for use by IRS employees conducting audits and as information for taxpayers and practitioners.
Financial Resources - Real Estate
This section provides you with direct links to many commonly used financial resources for small businesses.
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.
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.
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. 
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.
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. 
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