Estate tax in the United States exemption level with a 2001 top rate. That is, had no further legislation been passed, the estate of a person who died in the year 2010 would have been entirely exempt from tax while that of a person who died in the year 2011 or later would have been taxed as heavily as in 2001. However, on December 17, 2010, Congress passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Section 301 of the 2010 Act reinstated the federal estate tax. The new law set the exemption for U.S. citizens and residents at $5 million per
Property tax in the United States installments. In some jurisdictions, the first installment payment is based on prior year tax. Payment is generally required by cash or check delivered or mailed to the taxing jurisdiction. Property taxes generally attach to the property; that is, they become an encumbrance on the property which the current and future owners must satisfy. This attachment, or lien, generally happens automatically without further action of the taxing authority. The lien generally is removed automatically upon payment of the tax. If the tax is not paid within a specified period of time (including additional interest, penalties, and costs), a tax sale is