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It might be owned by a authorities, a corporate entity, or by a non-public party. Certain elements can directly influence the financial system, such as consistent improvement of land and the people or entities that facilitate those transfers of ownership. A land trust takes ownership or authority over a property at the request of its proprietor, usually for tax and privacy functions but with potential downsides. Property tax is an annual or semiannual charge levied by an area authorities and paid by the homeowners of real estate inside its jurisdiction. The presents that appear on this desk are from partnerships from which Investopedia receives compensation. This compensation may impression how and the place listings seem.