Pre-2008 US Edition
Income Tax is the fourth space on a standard Monopoly set, and is one of the least-liked spaces on the board.
Tax Options
When a player has the misfortune to land here, 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.