Property Taxes

The property tax is a tax on the market value of privately owned property, including land, cars, business inventory, etc. Although the property tax is the principal source of revenue for localities, broad consensus has not been reached on the basic issue of whether property taxes are regressive, proportional or progressive.

Property tax liability is calculated by multiplying the nominal property tax rate by the assessment ratio (the percentage of the value of the property that is taxed) by the value of the property.


Related Articles

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Household Income, 2007 – 2009 (3-year average)

March 2, 2011

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Home Value, 2007 – 2009 (three-year average)

March 2, 2011

Monday Map: Property Taxes By County, 2005-2009 Average

February 28, 2011

New Online Tools from the Tax Foundation

February 7, 2011

Recent State Tax Reforms in the United States and Opportunities for California at a Time of Fiscal Challenge (Testimony before California’s Select Committee on Recovery, Reform, and Realignment)

February 2, 2011

Illinois Considers Sharp Income Tax Increase, Highest Corporate Tax Rate

January 7, 2011

New Jersey Senate President Predicts Property Tax Increase Despite Cap

December 15, 2010

Property Taxes on Owner-Occupied Housing by County, 2005 – 2009, Ranked by Taxes as Percentage of Home Value (One year averages)

September 28, 2010

Property Taxes on Owner-Occupied Housing by State, 2004 – 2009

September 28, 2010

Property Taxes on Owner-Occupied Housing, by County, 2005 – 2009, Ranked by Property Taxes Paid

September 28, 2010

Census Data: New York, New Jersey Homeowners Pay Highest Property Taxes

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Property Tax Revenue Increased As Property Values Fell

August 31, 2010

Where Do State and Local Governments Get Their Tax Revenue?

August 27, 2010

New Jersey Approves Property Tax Cap

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Letter to Virginia Attorney General Cuccinelli Regarding His Office’s Position in the FFW Property Tax Case

July 1, 2010

Virginia Attorney General Cuccinelli Files Brief Defending Discriminatory Property Tax

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New Jersey Millionaire’s Tax

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Monday Map: Property Taxes on Housing by State

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Virginia Constitution Requires Uniform Distribution of the Metrorail Tax Burden in Fairfax County (FFW Enterprises v. Fairfax County and the Board of Supervisors of Fairfax County )

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