11 GCA § 24103: Levy.

(a) There is hereby levied on all land property in Guam a yearly tax at the rate of seven seventy-seconds percent (7/72%) of the value thereof and seven eighteenths percent (7/18%) of the value of the improvements thereon. Such tax shall be assessed and collected in the manner prescribed in this Chapter. All proceeds derived by the government under any provision of this Chapter shall be deposited in the Guam Educational Facilities Fund.

(b) In addition to the levy in Subsection (a), there is hereby levied on improvements on all land property in Guam with a value of One Million Dollars ($1,000,000) or more a yearly tax at the rate of seven eighteenths percent (7/18%) of the value thereon. Such tax shall be assessed and collected in the manner prescribed in this Chapter. All proceeds derived by the government under any provision of this Chapter shall be deposited in the Guam Educational Facilities Fund.