section_path: Types/Wealth
section_name: Wealth
paragraph_text: Wealth
  
  A wealth tax is levied on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts. Liabilities (primarily mortgages and other loans) are typically deducted, hence it is sometimes called a net wealth tax.