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The foundation principles for ad valorem taxes are that each property is valued according to its market value and that each property is taxed based upon a single millage rate that applies to everyone (uniformity). [10] Special assessment levies are not ad valorem property taxes even though they may be collected on a property tax bill. A special ...
This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
This tax is used to finance the budget of local authorities. The property tax comprises three different taxes: the tax on built properties, the tax on unbuilt properties, and a tax on household waste removal. Property tax on built properties. This is the most common tax in France. It is detailed in Article 1380 of the General Tax Code.
The average property tax rate is 0.56%, one of the lowest rates in the country. The average homeowner will pay around $1,707 - more than $1,000 less than the national average.
The county seat is Leesburg. [4] Loudoun County is part of the Washington–Arlington–Alexandria, DC–VA–MD–WV Metropolitan Statistical Area. As of 2023, Loudoun County had a median household income of $156,821, [5] the highest of any county in the nation. [6]
Accountants distinguish personal property from real property because personal property can be depreciated faster than improvements (while land is not depreciable at all). It is an owner's right to get tax benefits for chattel, and there are businesses that specialize in appraising personal property, or chattel.
The house and greater portion of the property are in Fauquier County: 53: Morven Park: Morven Park: February 18, 1975 : 1 mile (1.6 km) northwest of Leesburg off U.S. Route 15: Leesburg: 54: Mount Zion Old School Baptist Church-VDHR 53-339
A city and county that share a name may be completely unrelated in geography. For example, Richmond County is nowhere near the City of Richmond, and Franklin County is even farther from the City of Franklin. More Virginia counties are named for women than in any other state. [4] Virginia's postal abbreviation is VA and its FIPS state code is 51.