Recurrent property taxes may be imposed on immovable property (real property) an
d some classes of movable property. In addition, recurrent taxes may be imposed on net wealth of individuals or corporations.[10] Many jurisdictions impose esta te tax, gift tax or other inheritance taxes on property at death or gift transfe r. Some jurisdictions impose taxes on financial or capital transactions. Property tax[edit] Main articles: Property tax and Land value tax A property tax (or millage tax) is an ad valorem tax levy on the value of proper ty that the owner of the property is required to pay to a government in which th e property is situated. Multiple jurisdictions may tax the same property. There are three general varieties of property: land, improvements to land (immovable m an-made things, e.g. buildings) and personal property (movable things). Real est ate or realty is the combination of land and improvements to land. Property taxes are usually charged on a recurrent basis (e.g., yearly). A common type of property tax is an annual charge on the ownership of real estate, where the tax base is the estimated value of the property. For a period of over 150 y ears from 1695 a window tax was levied in England, with the result that one can still see listed buildings with windows bricked up in order to save their owners money. A similar tax on hearths existed in France and elsewhere, with similar r esults. The two most common type of event driven property taxes are stamp duty, charged upon change of ownership, and inheritance tax, which is imposed in many countries on the estates of the deceased.