Some properties, such as Garages, Armouries, Casino Games, Bullet Factories, and Money Transfer Agencies can be owned by players.
If you own a property the money made will go to your cash, a protection tax is taken out of this and paid into the vault of your local syndicate. Each property is specific to the location it is in.
To gain ownership of a property you must visit it in the location where it is unowned. Properties can be dropped by players, or become available if the player holding the property is killed.
Dropping a property makes it available for other players to pick up. Transferring a property changes ownership to the specified player.
Properties can be auctioned via the auction house. If an auction is successful (that is there were 1 or more bids which exceeded the reserve) then the cash is automatically credited to the previous owner, and ownership is automatically transferred to the winning bidder.
Bids are refunded when the player is outbid. It is possible to specify a "buy now" price on an auction.
To prevent overpowering and over-ownership of the game, all property owners are liable to pay property tax. Property tax is paid on a banded basis, as explained below.
Property tax is paid directly from character cash at 6:30pm (UK Time) daily. If you do not have enough cash on hand to cover your property tax liability your properties are repossessed and auctioned.
You can see your property tax liability summarised, and previous tax statements in the property tax page in the game.
Each property is assigned a point score based on its value. The total of this point score is what you pay tax on. You then pay tax on every point, depending on how many points you have you may pay more per point.
To simplify this, an example property portfolio is below