When a government treats property tax as a residual source of revenue, the amount to be raised for property taxes is determined budgeted revenues from all other sources are budgeted.
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Calculating Real Estate Tax</h3>
Different property kinds are taxed differently on the land and the buildings on it. For instance, vacant land will have a far lower assessed value than an equivalent piece of renovated property, therefore it will pay less in property taxes. The land assessment could be greater if there is access to public utilities like gas, water, and sewer. A higher assessment and additional taxes for the owner may result if the assessor believes that the land has the potential to be developed. A percentage of the property's assessed value determines how much a property is taxed.
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Article 5 of the Constitution outlines a second method for amending the Constitution in which a national convention is assembled at the request of the legislatures by two-thirds of the states, which would mean thirty four states. This is the other alternative two-thirds (or the super majority) of the Senate and the House of Representatives of the United States Congress.
