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  2. Tax-allocation district - Wikipedia

    en.wikipedia.org/wiki/Tax-allocation_district

    A tax-allocation district (TAD), also known as tax increment financing, is a defined area where real estate property tax monies gathered above a certain threshold for a certain period of time (typically 25 years) to be used for a specified improvement.

  3. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    However, a real property within the United States and a real property outside the United States would not be like-kind properties. Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands.

  4. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    The first permanent income tax was established by the Revenue Act of 1913, after the ratification of the Sixteenth Amendment to the United States Constitution earlier that year. A deduction for state and local taxes, as well as for national taxes, was included in the Revenue Act.

  5. Property tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Property_tax_in_the_United...

    Taxed property includes homes, farms, business premises, and most other real property. Many jurisdictions also tax certain types of other property used in a business. Property existing and located in the jurisdiction on a particular date is subject to this tax. This date is often January 1 of each year, but varies among jurisdictions.

  6. Property tax - Wikipedia

    en.wikipedia.org/wiki/Property_tax

    The administration of real estate tax is handled by the municipality in whose territory the real estate lies. In cities with multiple city districts, the tax administration of real estate tax is handled by the department of local taxes and fees and not by the city districts. For example, Bratislava or Košice. [55]

  7. In late 2022, the IRS announced that it would be adjusting tax brackets for the 2023 tax year as well as the standard deduction to account for inflation. That means that people who were previously ...

  8. Special assessment tax - Wikipedia

    en.wikipedia.org/wiki/Special_assessment_tax

    The property tax most citizens are aware of is known as an ad valorem tax. This tax is used to fund general or day-to-day government operations. An ad valorem tax is commonly levied on both real and personal property. A property tax is based upon a property's market value.

  9. Section 179 depreciation deduction - Wikipedia

    en.wikipedia.org/wiki/Section_179_depreciation...

    Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...