Glossary

Taxation (several types)

The process by which a government or municipal quasi-public body raises monies to fund its operation. The right of government to payment for the support of activities in which it engages. A double tax in real estate is the taxation of the property as an asset and the taxation of the property income the owner receives. Estate taxation is the tax imposed by government on property passed by will or descent. A personal property tax is a tax imposed upon owners of personal property. – A real property tax is a tax imposed upon the owners of real property.