Dictionary

Definition:   the percentage of value that is used to determine the amount of tax to be levied against each individual unit of property Pronunciation: Used in a Sentence:   The tax rate is establis...

Definition:   a claim against real property arising out of nonpayment of the property taxes Pronunciation:   \ˈlēn, ˈlē-ən\ Used in a Sentence:    The local tax lien for unpaid real property taxes ...

Definition:   an authority, such as a city, county, school board, or special levy area, with the power to assess property owners annually in order to meet its expenditures for the public good Pronu...

Definition:    a type of deed used to convey title after real property is sold at auction by public authority  for nonpayment of taxes Pronunciation: Used in a Sentence:   Once property is transfer...

Definition:   a provision in a mortgage that requires the borrower to pay all legitimate property taxes Pronunciation:   \ˈklȯz\ Used in a Sentence:    We were required to pay the property taxes o...

Definition:   a document issued to a person as a receipt for paying the delinquent taxes on real property owned by another, entitling the person to receive either the delinquent taxes plus interest...

Definition:   the assessed value less allowable exemptions resulting in an amount to which the tax rate is applied to determine property taxes due Pronunciation:    \ˈtak-sə-bəl\ \ˈval-(ˌ)yü\ Used ...

Definition:   gross income minus tax deductions; net operating income plus reserve for replacements minus financing costs and allowable depreciation Pronunciation:    \ˈtak-sə-bəl\  \ˈin-ˌkəm\ Used...

Definition:   anything of substance; personal and real property (e.g. cash, building, equipment, land) Pronunciation:   \ˈtan-jə-bəl\ \ˈa-ˌset\ Used in a Sentence:   A tangible asset can be touched...