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Federal, state, and local governments impose tax assessments against real property, personal property, and income. The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax ...
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year. [53] Exemptions can be quite substantial.
Hoodsport is a census-designated place (CDP) in Mason County, Washington, United States. [3] The population was 376 at the 2010 census. Hoodsport is located along the Hood Canal, at the intersection of U.S. Route 101 and State Route 119. Lake Cushman is 5 miles (8.0 km) up the road on State Route 119.
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
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Property tax was the first tax levied in the state of Washington, and its collection accounts for about 30% of Washington's total state and local revenue. It continues to be the most important revenue source for public schools , fire protection, libraries , parks and recreation, and other special-purpose districts.
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Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.