Examlex
Most English language learners in the U.S. speak Spanish as their first language.
Property Taxes
Taxes levied by local governments on the value of real estate owned, which fund services like schools, fire departments, and local infrastructure.
Inherited Property
Property that individuals receive as a result of the death of the previous owner, transferring ownership through a will or by law.
Depreciation Basis
The initial cost of an asset that is used to calculate depreciation expense over the asset's useful life.
Decedent's Basis
The value assigned to a deceased person's property for tax purposes, determining the basis for heirs or beneficiaries for capital gains tax calculations when they sell the property.
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