A property tax amount that is determined by how the property will be used. In real estate, the purpose of a property can greatly affect its value. For example, an acre of cornfields would generate much less income than an acre of high rise apartment buildings. A classified property tax permits state and local governments to collect greater revenue based on an assessment of how valuable the property is rather than simply the size of the plot.
Related information about classified property tax:
- What is classified property tax? definition and meaning
Definition of classified property tax: A property tax amount that is determined by how the ... A classified property tax permits state and local governments to collect ...
- Property Tax Classification in Cook County, Illinois
On the other hand, any effort to reduce such unequal or "classified" property tax rates will produce a revenue shortfall. Raising taxes on homeowners to equalize ...
- Property Taxes under “Classification”: Why do ... - MIT Economics
Jun 29, 2010 ... Sonstelie,J.(1979) “The incidence of a classified property tax.” Journal of Public. Economics, 12, 1979, 75-85. Wheaton, W. C. (1984) “The ...
- New Phases of the Classified Property Tax
New Phases of the Classified Property Tax. Contents: Author info; Abstract; Bibliographic info; Download info; Related research; References; Citations; Lists ...
- Lawriter - ORC - 5719.04 Tax list and duplicate of delinquent ...
The auditor shall cause a copy of the delinquent personal and classified property tax list and duplicate provided for in this division to be published twice within ...
- The incidence of a classified property tax
Under a classified property tax, different classes of property are taxed at different rates. The incidence of such a tax is analyzed in a two-sector, two-factor.
- commonwealth of kentucky property tax rates 2010
Kentucky has a broadly-based classified property tax system. As shown in the tables on the. Table I is the state property tax rates. Table II provides the average ...
- Analysis of the Graded Property Tax, Robert M. Schwab, Amy ...
The key issue here is the District's classified property tax. Under current policy, homeowners face a tax rate that is less than half the rate on commercial property ...