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 Tax Revenue Increased As Property Values Fell

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Where Do State and Local Governments Get Their Tax Revenue?

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Virginia Attorney General Cuccinelli Files Brief Defending Discriminatory Property Tax

July 1, 2010

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

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State-Local Tax Revenue Grew in Q1 of 2010, But 12-Month Property Tax Collections Dropped for First Time Since 2003

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New Jersey Millionaire’s Tax

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Tax Foundation Legal Brief: Fairfax County Property Taxes for Metro Extension Violate Virginia Constitution

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Rahm Emanuel Behind on Property Taxes

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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 )

June 3, 2010

New Podcast: Josh Barro of the Manhattan Institute on NJ Property Tax Reform

June 2, 2010

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

June 1, 2010

State Provisions for Property Reassessment

April 29, 2010

For Your Reading Entertainment: As Certain As Death, Quotations About Taxes.

April 12, 2010

North Dakota May Consider Property Tax Abolition

March 31, 2010

New Jersey Considers Property Tax Constraining Measure

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Lowest and Highest Property Taxes

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Illinois Should Respond to Recession by Broadening Tax Bases and Spending Frugally, Not by Raising the Personal Income Tax Rate

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Testimony to the Maryland Ways and Means Committee on HB366 State Property Tax — Homeowner’s Property Tax Assessment Cap Reduction

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