What term describes a situation where multiple issuers are trying to tax the same property?

The term that describes a situation where multiple issuers are trying to tax the same property is "overlapping debt." This occurs when several governmental entities have the authority to levy taxes on the same property or income, leading to a scenario where the total tax burden on a property owner can accumulate from different sources.

When various jurisdictions, such as municipalities, counties, or school districts, impose taxes based on overlapping tax bases, it can create a complexity for property owners who may face multiple tax obligations without receiving proportional benefits from all taxing entities. Understanding this term is vital for investors and financial professionals analyzing the credit risk of municipal bonds, as overlapping debt can influence a municipality’s financial stability and the attractiveness of its debt securities.

The other options refer to different concepts in taxation and liability that do not pertain specifically to the situation of multiple issuers taxing the same property. For instance, double taxation relates to being taxed in more than one jurisdiction on the same income or gain, while shared liability and joint obligations describe scenarios of responsibility rather than overlapping taxation.