Property Tax

What is property tax?

Property Tax Definition: Property tax is paid to a legal entity or party, by the owner of a home, which can be a business, group, or individual. Property tax, also known as real estate tax, is typically calculated by a local government and is often based on the region or zone, which may impact the amount of tax charged.

Property tax may also apply to other assets, including boats, cars, and commercial buildings. These taxes are collected to invest in the city or regional infrastructure that benefits the community, including libraries, roads, parks, fire services, schools, and highways.

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