Income Tax is the fourth space on a standard Monopoly set, and is one of the least-liked spaces on the board. People hate this space because when a player passes Go they use that money to pay the tax.
When a player has the misfortune to land on the Income Tax space, he or she must immediately choose one of two options: estimate their taxes at $200 and pay to the Bank, or choose to pay 10% of their total assets. This includes: Total cash on hand, printed price of unmortgaged properties, mortgage value of mortgaged properties, and printed prices of buildings owned. A player must decide their option before adding up their total assets.
For instance, a total of $2134 would result in paying $214 as 10%. Generally, it is better to pay 10% until you have passed Go 3 times, unless you think you have very low holdings and want to pay the 10%.
Some rules allow for ONLY the $200 fee, like the British Edition and the Pogo.com edition. As of September 2008, the new regular Monopoly US version games only have the $200 Income Tax, excluding the 10% option.
Some house rules mandate that Income Tax always be 10%, or some other value. In the Mega Edition, Income Tax is the 5th space rather than the 4th; in the Here and Now Edition, the space is worth $2,000,000 (or 10% of the player's total; as this edition was released prior to 2008).
Original 1935 Edition
In the original 1935 edition, the tax amount was $300; the change to $200 didn't come until a year later.
In the 2000 Mac edition, the tax % could be 0%, 5%, 10%, 15% or 20%. In dollars, it could be $0, $100, $200, $300, and $400.
Here, the Income tax can exceed $200 unless landed on early in the game:
""INCOME TAX": If you land here you have two options: You may estimate your tax at $900 and pay the Bank, or you may pay 10% of your total worth to the Bank. Your total worth is all your cash on hand, printed prices of mortgaged and unmortgaged properties and cost price of all buildings you own."
- Boutique Edition: Shopping Spree
- Major League Baseball Collector's Edition: Strikeout
- NASCAR Collector's Edition: Black Flag Tax