property tax

.A tax levied on the owner of property (esp. real property), usu. based on the
property’s value. • Local governments often impose property taxes to finance school districts,municipal projects, and the like. — Also termed (specif.) land tax. Cf. income tax; EXCISE. [Cases: Taxation 57–111. C.J.S. Taxation §§ 4, 79–168, 283, 1671–1672, 1674, 1681–1692.] proportional tax.See flat tax. [Blacks Law 8th]