Law of property taxation lecture notes in ppt

1. Property/ Wealth taxation
By:Alemu Taye (Asst. Prof.)
Debre Markos University
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2.  A property tax is a tax on an individual’s wealth—the value of assets
◦ Financial e.g. Stocks and bonds
◦ Real e.g. Land, building
◦ Corporeal chattels e.g. Cars
◦ Incorporeal e.g. Artwork
 Salient features
◦ It’s a local tax by nature (loci)= implication in the federal setting
◦ Usually with low rate but its by far the largest source of revenue
◦ Unpopular with owners
◦ The base is wealth= property right or property?
◦ problems of valuation
 The case in Ethiopia
◦ Oldest form
◦ State ownership of land- preference to land use fees, and lease rents
◦ Low living standard and per capita
◦ Current initiation
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