How is the US property tax levied? What is the US property tax?

The principle of American property tax is that no matter how big the house is, no matter how many people live in it, no matter how many houses there are, as long as there is real estate, it must be taxed at the prescribed tax rate. Property tax is an important tax of local governments in the United States with a long history. The tax rate is set by the state governments themselves, and the general annual tax rate is 65438+ 0.5 ~ 3% of the property value. For example, the property tax rate in New York State is relatively high, at 3%. For smaller houses, the property value is $654.38 +0.4 million, and the annual property tax is $4,200; Now I live in a bigger house, the house price is 270 thousand dollars, and I pay 8 100 dollars a year. A year's property tax is paid twice in the first half and the second half.

The United States attaches great importance to the rights of taxpayers, and Americans also consciously fulfill their tax obligations. Most Americans regularly pay property taxes to the tax authorities in the streets and communities. However, there will also be some offenders, so there are some regulations: those who fail to pay taxes within the time limit will pay a late fee at the monthly interest rate 10%; After repeated reminders, the tax authorities can file a lawsuit and the court will make a judgment; Insist on not paying, the relevant institutions will auction the house, the auction money will be paid in advance, and the balance will be returned to the owner.

The value of real estate is generally determined by the house price at the time of purchase when the house price is stable. At the same time, there is a housing appraisal organization in the streets and communities. With the change of housing condition, the owner can lodge a complaint to increase or decrease the value of the house. For example, the house has been in disrepair for a long time, and it is no longer worth the original price. You can apply for relief; For another example, if the original house is rebuilt or expanded, the value of the property must be increased.

American property tax standards:

The average house 1.5% or so, and some luxury houses are more than 2%. American houses are personal property, sacred and inviolable, and that is your land. It should also be noted that if an American bought his house in 1980s and spent $65,438+0,000, his property tax will be levied at 0.5% of this 1 0,000. Although the proportion will gradually increase, it is far lower than the property tax of the current house. Therefore, most middle-aged and elderly Americans can basically ignore the property tax if they live in an old house.

American property tax is actually a part of property tax. Property tax (also translated as property tax) is a tax levied on all kinds of personal property (such as cars and mobile homes) and real estate (referring to land and property fixed on land, such as buildings).

It is worth noting that the US property tax is a local tax and a major part of local government revenue. Mainly for the evaluation value of real estate, tax is used as the fund for local government services. Local governments have great autonomy in the collection of property tax, and can decide the tax base, tax rate, reduction and exemption terms and so on.

The subject of tax revenue-local government. The United States implements a three-level tax system at the federal, state and local levels. Property tax is generally levied by local governments below the state level. The role of the state government is mainly reflected in setting a higher property tax rate through legislation for local governments to comply with.

Taxpayer-the owner of the house. The owner of the house is responsible for paying taxes.

Tax base-the appraised value of the house. The government will regularly assess the fair market value of housing. But the tax amount is not the fair market value of the house, but the fair value multiplied by an evaluation ratio. Different regions have different appraisal ratios, and the same region, different years, different types or uses of properties are also different. If the owner disagrees with the appraisal of the house, he can ask for a new appraisal. By implementing different evaluation ratios for different types of real estate, the government can also achieve a certain policy tilt.

The tax rate is determined by the local government. Local governments in the United States generally determine the total property tax according to the budget revenue and total expenditure, and then determine the tax rate according to the assessed tax amount. The method of determining tax rate varies from place to place, but it is limited by national laws. California with relatively developed economy is 1. 1%, and Texas with less developed economy is 3%. The tax rate is proposed by the state legislature and passed by the voters in the constituency. County (equivalent to domestic prefecture-level cities) tax department is responsible for the specific collection. The tax rate determined by the local government is subject to the state tax law and can only be implemented after being approved by the state government.

According to the data of the 2009 community survey in the United States, the Tax Foundation compiled the property tax tables of 793 counties with a population of over 65,000 in the United States. The table shows the property tax of self-occupied houses, excluding the property tax of lessors and operating properties. According to statistics, the median tax is 0.96% of the house value; The higher is Orleans County in new york, accounting for 2.99%, and the lower is Tangipahoa parish in Louisiana, accounting for 0. 12%. Similarly, in the median, the property tax accounts for 2.85% of the annual household income, which is higher in Passaic County, New Jersey, accounting for 8.7g%, and lower in Vernon Parish, Louisiana, accounting for 0.25%. Judging from the total property tax, the median value of counties in the United States is $65,438 +0.838, and the corresponding housing value is $65,438+0.965,438 +0.900. In counties with high total property tax, the average property tax paid by a house is $8,478 (the corresponding house value is $494,000); In counties with low total property tax, the average property tax paid by a house is $ 1 16 (the corresponding house value is $65,700).

What are the penalties for not paying US property tax? If the homeowner refuses to pay taxes, the tax authorities can take various punishment measures. In some States, the government can sell the pledge right to a third party, and the third party will recover the tax. In some States, houses can be sold to get taxes.

In fact, the property tax in the United States will have a relatively reduced clause. Different places have set up different relief clauses, and in fact, a progressive tax rate has been achieved. Including housing, veterans, industrial parks and charities. Almost all regions provide relief for self-housing, but different regions have different ways; For example, California gives a fixed tax exemption for taxable value, and some States give a certain percentage of tax exemption according to the taxable value of property. In addition, some states have adopted "cut-off" rules to prevent low-income people from paying excessive taxes.

Specifically, when the property tax exceeds a certain proportion of household income, the excess can be deducted or returned from the income tax. The main beneficiaries of this measure are the elderly, because their income level is low and the property tax is relatively high.

American property tax can offset income tax. In the calculation of income tax, the interest expenses of American property tax and housing mortgage loan can be deducted from income, which reduces the tax base of income tax, thus reducing the comprehensive tax of taxpayers.

American property tax is mainly used for local government public expenditure. Generally speaking, it is mainly used for local education, libraries, public facilities, and to pay the expenses of local public servants such as the police. Generally, in areas with high property tax, schools should also be better, because there is more financial support. The real estate in the corresponding area has a large appreciation space every year.

The property tax in the United States originated in the colonial era. However, in the early days, property taxes varied greatly. Some places levy taxes on land, while others do not; Some places tax according to the amount of land, some places tax according to the value of land, and some places tax according to the use of land; Some places take property value as the standard, while others take property income as the standard. From 1796 to the civil war, the property tax in various places was gradually unified. Movable and immovable property, tangible or intangible assets are all levied at a uniform tax rate. After the 20th century, many places began to reduce or exempt some property taxes. After World War II, some states began to replace property tax relief with power cut rules to limit the sharp rise of property tax.

Property tax has always been the main source of income for local governments, but its contribution to state governments is decreasing. The earliest comprehensive census in the United States 1902, the property tax accounted for 73% of the total revenue of local governments; By 1992, property tax accounts for 40% of local government revenue. However, the contribution of property tax to government revenue at all levels has changed greatly. 1902, property tax accounts for 45% of state government revenue and 42% of third-level government revenue; But by 1992, the property tax only accounts for 1.2% of the state government revenue and 8% of the third-level government revenue.

The reason for this change is that local governments can better link tax revenue with the services they provide. Local governments can not only provide better services for local residents, but also enhance the value of property by using income tax for roads and local education expenditures. The state government and the federal government are not as good as local governments in this respect, so gradually, property tax has become a local tax.

Because of the long history of property tax in the United States, it is difficult to distinguish the changes in the real estate market before and after the introduction of property tax. However, many studies have established models or used econometrics to analyze the impact of property tax rate changes. Most studies show that raising the property tax rate (or canceling tax relief) will reduce housing demand and lead to a decline in house prices. However, some studies show that under some assumptions, the change of tax rate is mainly reflected in the change of house price, which has little effect on housing demand. The research by Dennis R. Capozza (1998) also shows that the abolition of property tax exemption will lead to a 5% overall decline in house prices, and the decline will be even greater in areas with high house prices; For example, the cancellation of property tax relief can lead to a drop in Boston house prices 15%.