an annual governmental tax on real property or personal property based on a tax
rate (so many dollars or cents per $100 value of the property). The value is usually
established by an Assessor, a county official. In California the assessed value
of real property is based on the amount of the last sale of the property, and the
tax is limited to 1% of that figure (with a few minor exceptions) under the so-called
"Proposition 13" state constitutional provision. In addition, there are special
assessments for particular public property improvements such as sidewalks, tree
planting, or storm drains which are charged to each property owner on the street
in which the improvements are made.
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