If you have a property that would be valuable to one of your opponents (perhaps they need it to make a set), you might be able to sell it for a higher price than mortgaging it off. You can even sell a Get Out of Jail Free card (if one of your opponents is feeling nice and buys it from you when you are on the verge of losing the game). You can also sell houses and hotels for half of what you paid for them. If you have any properties, they can be mortgaged at half of their face value. But, if you’re low on funds, you may still be able to pay the tax, and avoid bankruptcy, by selling some or all of your assets. In most situations, you will pay this from your cash reserves. If find yourself on the Income Tax space, you are obliged to pay the $200 tax. If the player has no cash but has other assets they may still be able to avoid bankruptcy and pay the Income Tax. If a player finds that they can’t pay their Income Tax during a game of Monopoly, they will be declared bankrupt and their game is over. What Happens When You Can’t Pay Income Tax? You can check out some of these lesser-known Monopoly rules to make sure you’re playing correctly. The actual rules of Monopoly are quite finely balanced to make sure that the game is even and doesn’t go on forever, so I recommend following them to the letter. There are also some people that use house rules that set Income Tax to always be 10%, or some other value, rather than the set $200 of modern editions. The very first edition of Monopoly, released in 1935, had a higher Income Tax of $300.ĭon’t do this with your Income Tax money and fines! Interestingly, this 10% rule was never included in the UK edition which has always had an Income Tax of $200. It is definitely easier math to use the latest version of the rules! Conversely, if you are not doing so well you will pay less income tax, which could help to stave off bankruptcy. If you’re doing well and have lots of money and property then there is a risk of paying more than $200 in tax. The catch is that you must say which type of tax you want to pay before adding up your net worth. To do this you add up your cash in the normal way, add the property value by using the printed price of all unmortgaged property and mortgaged value of any mortgaged properties, and finally, you add the value of your buildings by using the printed price of all your houses and hotels. To calculate 10% of your worth, you’ll need to add up the value of your cash, property, houses, and hotels. If you’re playing an older version of the game and have the option to choose between paying a fixed $200 fee or 10% of your total worth, you’ll need to know how to calculate this correctly. The US version of Monopoly was updated in 2008 to include the set Income Tax of $200. Earlier versions of the game made before 2008 included the option to pay either $200 or 10% of your total worth. If you land on the Income Tax space, you must immediately pay $200 to the Bank. This is not quite as bad as Income Tax as you only have to pay $100 if you land on Luxury Tax. The second type of tax in Monopoly is the Luxury Tax (known as Super Tax in the UK). This seems to happen to me way more often than it should! Income Tax is the fourth space on a standard Monopoly board, nestled between Baltic Avenue and Reading Railroad.Īs the square is so close to the Go space, there’s always a danger that a player will instantly lose the salary that they have been paid for passing Go (both are $200). When a player lands on Income Tax they must immediately pay $200 to the Bank. Income Tax is one of the two forms of taxation that are found on a Monopoly board. Older versions of the game let you choose between paying $200 or 10% of your total assets.This is a house rule that slows the game down. Don’t put money in the middle of the board/under Free Parking.You must pay $200 to the bank when landing on it.Income Tax is the fourth space on the Monopoly board after ‘Go’.The first of two Monopoly taxes in the game.
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