ABSTRACT
The property tax can perhaps be considered the oldest form of taxation for modern government. Dating back to medieval times, property taxation was instituted as an obligation for the use of land that was not owned but rather supplied through royal favors (Hale, 1985). This form of taxation was based upon a person’s status or class within society, rather than upon any determination of the land’s value. The first secular property tax was instituted in England in 1194, in which local subjects, acting on behalf of the king, estimated the wealth of each resident to determine their tax liability (Hale, 1985). While the modern form of property taxation has changed significantly since these first examples, the concept of a tariff or duty imposed upon individuals who use real estate has remained largely the same. This chapter highlights the evolution of the property tax by discussing property taxation in the past, present and future.
