Nowadays there are four different types of taxes levied on property. The most significant taxes on property from government point of view are Capital Gain Tax (rent incomes) and VAT. Stamp Duty and Local / Land tax generate for state less income, but they are applied solely to real estates. Stamp duty is a transfer tax on the purchase of house. The system (in UK and Ireland) works on thresholds and appropriate percentage. Second pure real estate taxation is based on the assessed value of the property.