All homeowners are obliged to pay property taxes. But how much do we really know about property taxes? Why is it important that we understand them? All of us know that this tax is dependent upon the value of their property and the tax rate at that time. However, are there different types of the said taxes? What other essential information we need to know about these?
What is a property?
There are two significant categories of property taxs. These are the real and personal. There are numerous definitions of the personal and real property. Real properties include land and any immovable features installed on it. Examples are houses, apartments and shopping centers.
The personal properties on the other hand are those that do not fall under the true category. These are any items that aren't attached on the land. These are normally mobile. Examples of these are livestock, computers and cars.
However, this may be further categorized into tangible and intangible. Those under tangible category are the ones that are physically available just like the above examples. On the other hand, those that fall under the intangible category are the ones that don't have physical characteristics just like patents and copyright. Good pest control companies will also identify any pests before they carry out any form of treatment. It is crucial that this happens so that the correct type of pesticides can be used.