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Property Tax
Taxes levied by local governments on real estate and sometimes other forms of personal property.
Selling Price
The amount a good or service is sold for in the market.
Assessed Value
The dollar value assigned to a property for purposes of measuring applicable taxes, often determined by a public tax assessor.
Payoff
The act of completely repaying a loan, including the principal amount and any accrued interest, thereby fulfilling the borrower's obligations.
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