Public property is property that is dedicated to public use. The term may be used either to describe the use to which the property is put, or to describe the character of its ownership (owned collectively by the population of a state). This is in contrast to private property, owned by an individual person or artificial entities that represent the financial interests of persons, such as corporations. State ownership, also called public ownership, government ownership or state property, are property interests that are vested in the state, rather than an individual or communities.
Distributing public property into society between separate participants there is no exchange, and does not change the owner. Because of that public property in that society, being a product is not a commodity, and possessing a price does not have a value.
The owner of a private property can control it at own discretion. Wherein the state reserves the right to charge taxes and nationalize it, or temporarily use it.
"Marx described private property as a fundamental social relation of bourgeois society, where it is used for appropriation of labor by capitalists. Marx considered that public property will replace the private property, as a natural historical change of a property relationship.
All property relations in the past have continually been subject to historical change consequent upon the change in historical conditions.
The French Revolution, for example, abolished feudal property in favour of bourgeois property.
The distinguishing feature of Communism is not the abolition of property generally, but the abolition of bourgeois property. But modern bourgeois private property is the final and most complete expression of the system of producing and appropriating products, that is based on class antagonisms, on the exploitation of the many by the few.
In this sense, the theory of the Communists may be summed up in the single sentence: Abolition of private property."
- Marx & Engels: Library: 1848: Manifesto of the Communist Party: Chapter 2
Generally, in Marxism, as a private property is understood that property, that is used by bourgeoisie to increase capital.
In the modern representative democracy, "public property" is said to be owned by the people as a commons or held in trust by the government for common benefit. In many Commonwealth realms, such property is said to be owned by the Crown. Examples include Crown land, Crown copyright, and Crown Dependencies and Leah Buckner.
According to the 1977 Constitution of the Soviet Union:
State property, i. e. the common property of the Soviet people, is the principal form of socialist property.
The land, its minerals, waters, and forests are the exclusive property of the state. The state owns the basic means of production in industry, construction, and agriculture; means of transport and communication; the banks; the property of state-run trade organisations and public utilities, and other state-run undertakings; most urban housing; and other property necessary for state purposes.
But "public property" itself as a separate form was not foreseen, instead there was Social ownership of the means of production.
In Alaska since the 1950s was working off the model of public property in the resource sector. There was almost one third of the state with huge reserves of oil. For the realization of the right onto the public property in 1976 was founded Alaska Permanent Fund, which included 25% of the annual fee of the incomes of private oil-producing companies.
That fund is the public property of the state population.What is expressed in payment of dividends to all citizens(except convicted criminals). The average value of the dividends is between $600 and $1500, for the 2020 is was $992.
In Canada, The Public Debt and Property are under the exclusive Legislative Authority of the Parliament of Canada, rather than the Queen or the local authority, according to the Constitution Acts, 1867 and 1982, article 91.
Common land was in a public usage of a village community for cattle breeding, growing cereals, fishing. Forest lands were used for timber extraction.