Tax

====Property taxes====
{{Main|Property tax|Land value tax}}
A property tax (or millage tax) is an [[ad valorem tax|'' ad valorem'' tax]] levy on the value of a property that the owner of the property is required to pay to a government in which the property is situated. Multiple jurisdictions may tax the same property. There are three general varieties of property: land, improvements to land (immovable human-made things, e.g. buildings), and personal property (movable things). [[Real property|Real estate]] or realty is the combination of land and improvements to the land.

Property taxes are usually charged on a recurrent basis (e.g., yearly). A common type of property tax is an annual charge on the ownership of [[real estate]], where the tax base is the estimated value of the property. For a period of over 150 years from 1695, the government of England levied a [[window tax]], with the result that one can still see [[listed buildings]] with windows bricked up in order to save their owner's money. A similar tax on hearths existed in France and elsewhere, with similar results. The two most common types of event-driven property taxes are [[stamp duty]], charged upon change of ownership, and [[inheritance tax]], which many countries impose on the estates of the deceased.

In contrast with a tax on real estate (land and buildings), a [[land value tax|land-value tax]] (or LVT) is levied only on the unimproved value of the land ("land" in this instance may mean either the economic term, i.e., all-natural resources, or the natural resources associated with specific areas of the Earth's surface: "lots" or "land parcels"). Proponents of the land-value tax argue that it is economically justified, as it will not deter production, distort market mechanisms or otherwise create [[deadweight loss]]es the way other taxes do.<ref>{{Cite book |last1= McCluskey |first1= William J. |last2= Franzsen |first2= Riël C. D. |title= Land Value Taxation: An Applied Analysis |page= 4 |publisher= Ashgate Publishing, Ltd. |year= 2005 |url= https://books.google.com/books?id=jkogP2U4k0AC&pg=PA73|isbn= 978-0-7546-1490-6}}</ref>

When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a [[PILOT (finance)|payment in lieu of taxes]] to compensate it for some or all of the foregone tax revenues.

In many jurisdictions (including many American states), there is a general tax levied periodically on residents who own [[personal property]] (personalty) within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. The tax is often designed with blanket coverage and large exceptions for things like food and clothing. Household goods are often exempt when kept or used within the household.<ref name="taxpolicycenter1">{{cite web |url=http://www.taxpolicycenter.org/taxtopics/budget.cfm |title=TPC Tax Topics &#124; Federal Budget |publisher=Taxpolicycenter.org |access-date=27 March 2009}}</ref> Any otherwise non-exempt object can lose its exemption if regularly kept outside the household.<ref name="taxpolicycenter1" /> Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax.<ref name="taxpolicycenter1" /> If an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in ''that'' state as well.<ref name="taxpolicycenter1" />