In real estate, a lot or plot is a tract or parcel of land owned or meant to be owned by some owner(s). A lot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in other countries. Possible owner(s) of a lot can be one or more person(s) or another legal entity, such as a company/corporation, organization, government, or trust. A common form of ownership of a lot is called fee simple in some countries.
A lot may also be defined as a small area of land that is empty except for pavement or similar improvement. An example would be a parking lot. This article covers lots as parcels of land meant to be owned as units by an owner(s).
Like most other types of real estate, lots owned by private parties are subject to a periodic real estate tax payable by the owners to local governments such as a county or municipality. These real estate taxes are based on the assessed value of the real property; additional taxes usually apply to transfer of ownership and property sales. Other fees by government are possible for improvements such as curbs and sidewalks or an impact fee for building a house on a vacant lot.
Italy (Italian: Italia [iˈtaːlja] ( listen)), officially the Italian Republic (Italian: Repubblica Italiana [reˈpubblika itaˈljaːna]), is a sovereign state in Europe. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino and Vatican City. Italy covers an area of 301,338 km2 (116,347 sq mi) and has a largely temperate seasonal and Mediterranean climate. With around 61 million inhabitants, it is the fourth-most populous EU member state and the most populous in southern Europe.
Since classical times, ancient Phoenicians, Carthaginians and Greeks established settlements in the south of Italy, with Etruscans and Celts inhabiting the centre and the north of Italy respectively, and various ancient Italian tribes and Italic peoples dispersed throughout the Italian Peninsula and insular Italy. The Italic tribe known as the Latins formed the Roman Kingdom in the 8th century BC, which eventually became a republic that conquered and assimilated its neighbours. Ultimately, the Roman Empire emerged in the 1st century BC as the dominant power in the Mediterranean Basin and became the leading cultural, political and religious centre of Western civilisation. The legacy of the Roman Empire is widespread and can be observed in the global distribution of civilian law, republican governments, Christianity and the Latin script.
During the Early Middle Ages, Italy suffered sociopolitical collapse amid calamitous barbarian invasions, but by the 11th century numerous rival city-states and maritime republics, mainly in the northern and central regions of Italy, rose to great prosperity through shipping, commerce and banking, laying the groundwork for modern capitalism. These mostly independent statelets, acting as Europe's main spice trade hubs with Asia and the Near East, often enjoyed a greater degree of democracy than the larger feudal monarchies that were consolidating throughout Europe; however, part of central Italy was under the control of the theocratic Papal States, while Southern Italy remained largely feudal until the 19th century, partially as a result of a succession of Byzantine, Arab, Norman, Angevin and Spanish conquests of the region.
The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science, exploration and art. Italian culture flourished at this time, producing famous scholars, artists and polymaths, such as Michelangelo, Leonardo da Vinci, Raphael, Galileo and Machiavelli. Since the Middle Ages, Italian explorers such as Marco Polo, Christopher Columbus, Amerigo Vespucci, John Cabot and Giovanni da Verrazzano discovered new routes to the Far East and the New World, helping to usher in the European Age of Discovery. Nevertheless, Italy's commercial and political power significantly waned with the opening of trade routes which bypassed the Mediterranean. Furthermore, the Italian city-states constantly engaged one another in bloody warfare, culminating in the Italian Wars of the 15th and 16th centuries that left them exhausted, with none emerging as a dominant power. They soon fell victim to conquest by European powers such as France, Spain and Austria.
By the mid-19th century, a rising movement in support of Italian nationalism and independence from foreign control led to a period of revolutionary political upheaval. After centuries of foreign domination and political division, Italy was almost entirely unified in 1871, creating a great power. From the late 19th century to the early 20th century, the new Kingdom of Italy rapidly industrialised, although mainly in the north, and acquired a colonial empire, while the south remained largely impoverished and excluded from industrialisation, fuelling a large and influential diaspora. Despite being one of the main victors in World War I, Italy entered a period of economic crisis and social turmoil, leading to the rise of a fascist dictatorship in 1922. Participation in World War II on the Axis side ended in military defeat, economic destruction and the Italian Civil War. Following the liberation of Italy and the rise of the resistance, the country abolished the monarchy, reinstated democracy, enjoyed a prolonged economic boom and, despite periods of sociopolitical turmoils, became a major advanced country.
Today, Italy has the third largest nominal GDP in the Eurozone and the eighth largest in the world. As an advanced economy, the country has the sixth-largest worldwide national wealth, and it is ranked third for its central bank gold reserve. Italy has a very high level of human development, and it stands among the top countries for life expectancy. The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs, and it is both a regional power and a great power. Italy is a founding and leading member of the European Union and a member of numerous international institutions, including the UN, NATO, the OECD, the OSCE, the WTO, the G7, the G20, the Union for the Mediterranean, the Council of Europe, Uniting for Consensus, the Schengen Area and many more. As a reflection of its cultural wealth, Italy is home to 53 World Heritage Sites, the most in the world, and is the fifth-most visited country. Source: https://en.wikipedia.org/
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