Taxes paid on privately owned properties and are based on local tax rates and assessed property values.
Property tax deduction
U.S. tax code allowing homeowners to deduct the amount they have paid in property taxes.
Property under contract
Real estate being offered for sale that has received a contract for sale but has not gone to a closing.
Property value
Value of a piece of property based on the amount a buyer will pay at any g given time.
Proportional
(1) The comparative relation between things with respect to size, amount, degree, etc. (2) To be in proper harmony and balance.
Proportionality
Comparing properties in terms of some measure(s) such as dimensions and dollar value. Alternately, percentage relationship of a specific part of property to the whole property.
Proportioner
A pumping unit comprised of two (2) positive displacement pumps that is designed to dispense two (2) components at a precise ratio. Used in SPF and plural component coating applications.
Proposal
Detailed presentation of an offering to perform a job for a specified amount under certain conditions. Often given by a subcontractor to a general contractor.
Proprietary lease
Lease in a cooperative apartment building, the lease a corporation provides to the stockholders, which allows them to use a certain apartment unit under the conditions specified.
Proprietorship
Ownership of a business, including income-producing real estate, by an individual, as contrasted with a partnership or corporation.
