What are the various types of property taxes?

Property taxes are taxes that are levied on real estate, personal property, and other tangible or intangible assets in the state of Florida. The primary type of property tax is a real estate tax, which is based on the assessed value of the property and is levied by the county where the property is located. Personal property taxes are usually collected on tangible personal items such as cars, boats, and furniture. In addition, intangible property taxes may be applied to items such as stocks, bonds, and bank accounts. Another type of property tax is the business tangible personal property tax, which applies to items owned by a business such as office furniture, equipment, and inventory. This type of tax is especially important for businesses located in multiple counties, as each county may have its own tax rate for business tangible personal property. Additionally, Florida levies a state documentary stamp tax on certain types of real estate transactions. This includes a documentary surtax on certain documents such as mortgages, deeds, promissory notes, and lease agreements. The most common type of property taxes in Florida are ad valorem taxes, which are taxes based on the assessed value of the property. This type of tax is levied by the county and is usually included in the cost of a house or other real estate for sale. Ad valorem taxes can also be imposed on certain items of personal property for property taxes. Finally, Florida imposes a state-level intangible tax on certain types of intangible assets such as stocks, bonds, mutual funds, and bank accounts. Florida also has an excise tax on alcoholic beverages, cigarettes, and gasoline, as well as other specific taxes.

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What are the various types of property taxes?

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