(especially in legal usage) a person who purchases or contracts to purchase; buyer. Origin of emptor. 1870-1875. 1870-75; < Latin: buyer, equivalent to em(ere) to buy + -tor -tor, with intrusive -p-. Examples from the Web for emptor.
Taxes. Because rent is considered income, it is taxable to the extent that your income is taxable. For example, if your income (including rent) minus any allowable exemptions and deductions is still taxable, then your rent is taxable. However, if you also use the rental property as your home, and you rent it out less than 15 days out of the year, then the rent you collect is not considered part of your income.
Renters must have a landlord-tenant relationship. Renters must make certain their landlords were required to pay property taxes or has made a payment in lieu of tax payments on the rental property. You are eligible for a Property Tax/Rent Rebate if you meet the requirements in each of the three categories below:Category 1 â Type of Filer. 1  You were 65 years of age or older as of Dec. 31 of the year claimed; or.ou must report all items of income, except those listed on Page 7 of the Property Tax/Rent Rebate booklet (link below), whether or not the income is taxable for federal or PA income tax purposes. NOTE: There may be differences between eligibility income and PA-taxable income.