Amit Srivastava Advocate & Associates
Amit Srivastava
21 Years Exp
Property Tax Payment (Show More)
Lucknow , Batha Sabauli
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Overview
A property tax is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: 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) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial and vacant real property.[1] In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments.
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Name : Amit Srivastava
Law Firm Name : Amit Srivastava Advocate & Associates
Country : India
City : Lucknow
State : UTTAR PRADESH
Practicing Since: 2004
About Your Firm : I am practicing Lawyer at Lucknow since 2004. You can find me at Just Dail & Google. I do all type of cases related to property matters.
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