Private property tax (3)
I believe the answer is:
vat
'tax' is the definition.
(UK Value Added Tax)
'private property' is the wordplay.
'VAT' is hidden within the letters.
However, I'm uncertain how the hidden word is indicated.
Can you help me to learn more?
(Other definitions for vat that I've seen before include "A tax on a large container?" , "Large tank for liquids, or kind of tax" , "Container for liquids" , "Large container for liquid" , "Barrel - tax" .)