A house is a kind of property.
A house has all of the attributes of a property. In addition, a house has: a lot size (measured in whole square feet) and an assessed value (measured in whole dollars). Only the assessed value can change over time.
Houses have a property tax. The property tax is the assessed value (in hundreds of dollars) times the tax rate for the jurisdiction in which the house is located. For example, a house with an assessed value of $200,000 in a jurisdiction with a tax rate of $0.80 per $100 has a property tax of $1,600 (i.e., 2000 times $0.80).
The description of a house must be:
House (on a lot of LotSize sq ft)
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