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The U.S. has no property taxes in that sense (a tax on all owned property, more commonly called a "wealth tax"). Some states have a tax called a "property tax",
by mjn 13y ago
The U.S. has no property taxes in that sense (a tax on all owned property, more commonly called a "wealth tax"). Some states have a tax called a "property tax", but it applies only to land and buildings ("real property"), not to other kinds of property such as stocks, baseball cards, gold, bitcoin, bank accounts, paintings, etc.
- dionidium 13y agobut it applies only to land and buildings ("real property") And, frequently, automobiles, boats, etc
- genericuser 13y agoIn many locations the taxes on vehicles come in the form of a separate excise tax on 'value' given to the vehicle based on its original value and age, this tax is administered at the City level where I live in Massachusetts. Are there locations in the US where the general property tax is applied itself to vehicles? Or were you simply stating that things other than land and buildings could be taxed, and not that the property tax applies to them?
- dionidium 13y agoIt differs from state to state, basically: * http://money.howstuffworks.com/personal-finance/personal-income-taxes/personal-property-taxes.htm http://money.howstuffworks.com/personal-finance/personal-inc...
- antr 13y agoUnderstood, thanks