(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.
The renterâs property tax refund program (sometimes called the ârentersâ creditâ) is a state-paid refund that provides tax relief to renters whose rent and âimplicit. property taxesâ are high relative to their incomes. âRent constituting property. taxesâ is assumed to equal 17 percent of rent paid. If rent constituting property.