Property Taxes: Understanding Assessment and Your Payment

Whether you’re already a property owner or looking to invest in property, anticipating the cost of property taxes is vital for your budget and bottom line. Property taxes may be confusing at first glance.

What Are Property Taxes

Property tax is a local government tax on real estate or certain types of personal property, such as residential real estate or undeveloped land.

1

How Property Taxes Are Calculated

While many annual taxes are based on income, property tax is unaffected by an individual’s earnings.

2

Property Tax and Real Estate Tax: Differentiating The Two

3

Where Do Property Tax Funds Go

4

Property taxes fund essential local and state government programs that provide community services.

The first step in calculating property taxes is to determine the taxable value of your property. 

5

How To Calculate Property Tax Rate

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