7,400 Government Links
We have listed over
7,400 websites that belong to state and local
governments throughout each of the 50 States
and the District of Columbia.
Click on the state on
the below map or select the state from the dropdown
box.
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Types of Tax
Don't
tax you, don't tax me, tax that fellow behind
the tree.
Senator Russell Long, 1977
The ad valorem property tax is the primary
revenue source for local government in the United
States. Some states tax real estate heavily
and exempt personal property. Others tax both.
Still, others rely more on income tax, sales/use
tax or they tax sins. Then there are those who
boast of their low property taxes and instead
tax intangible property. A very important advantage of the property tax over the sales tax or income tax a tax is that the
revenue always equals the tax levy, unlike the other taxes, which can
result in shortfalls producing budget deficits. The property tax always produces the required revenue for municipalities' tax levies.
The fact is that government
costs money. It doesn't really matter where you are located. Government
costs about the same everywhere subject only to minor variations.
Nationwide, local governments are are looking
to increase revenues from constant sources such
as the property tax. As a result, property taxes
will be increasing at double-digit rates again
during 2013.
In Illinois, there is pressure on the local
assessors to increase tax revenues. This pressure
is political in nature and is resulting in higher
assessments and a search for alternative sources
of revenue. Even if assessments drop, rates will increase because local goverments continue to resist spending cuts.
Real Estate Tax
Real estate tax, also known as property tax, is a tax
levied on real property, usually in an ad valorem
manner (i.e. in proportion to the value of something).
Generally, real property refers to land, buildings
and their structural components.
Historically, the American real estate tax has its origins in
old England where funds were raised for the
purpose of supporting military
expeditions. The tax known as Danegeld was equivalent to 2 shillings per each 100 acres.
It was first imposed during the year 868. From that time on, it was imposed whenever someone
needed to be conquered. The property tax became
so important that the concept was addressed
in the Magna Carta. From England to the Colonies,
the concept eventually came to be looked upon
favorably as a stable and predictable source of revenue. The
property tax has been referred to as the price
of civilization.
Illinois does tax real estate and they do it
quite aggressively. Revenues generated by the
real estate tax are used to fund local government,
particularly education.
Examples of real estate which is taxed are:
- Manufacturing facilities
- Shopping centers
- Leaseholds
- Mineral rights
- Air rights
- Pipelines
- Single family houses
- Apartment buildings and Condominium developments
The state of Illinois,
Cook County and numerous municipalities also
tax the sale of real estate. Consult with
local counsel for details.
Intangible Property Tax
Intangible property tax is a tax levied on intangible property
that is generally a property interest other than real or personal
property and with no intrinsic value. Its value lies in the rights
themselves.
Examples include:
- Stocks/Bonds
- Goodwill
- Patents
- Copyrights
- Customer Lists
Illinois does not tax intangible property. The city of Chicago does have a tax on software.
Personal Property Tax
Personal property tax is a tax levied on
tangible property other than real estate.
Examples include:
- Business inventory
- Equipment
- Machinery
- Vehicles
- Aircraft
- Boats
The state of Illinois does not tax personal property while the state of Indiana does tax personal property.
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