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

From the Department of Out-of-Context

June 16, 2009

Rep. Halvorson Wants To Extend the Standard Deduction For Property Taxes

May 15, 2009

Mayor Proposes a College Attendance Head Tax In Rhode Island

May 14, 2009

The Price of Paradise: Hawaii Becomes Fifth State to Adopt New Income Tax Brackets on High-Earners

May 12, 2009

Pennsylvania May Consider Property Tax Repeal or Reform

May 6, 2009

Property Tax Rates Going Up in Once-Booming Virginia Exurb

April 9, 2009

Topline Results for Tax Foundation’s 2009 Survey of U.S. Attitudes on Taxes, Government Spending and Wealth Distribution

April 8, 2009

Tax Foundation Economist on CNN Discussing Property Tax Increases Across the Nation

April 2, 2009

Paterson / Silver Budget Will Make New York’s Taxes Worst in Country

March 31, 2009

States Use Gentle Hand in Taxing Timberland

March 25, 2009

Tax Foundation Communications Director on CNN Discussing Rising Local Property Taxes Across the Country

March 24, 2009

Tax Foundation Staff Economist on CNN Discussing Property Taxes

January 27, 2009

Rental Car Tax an Unfair Way to Fund Tri-Rail

January 22, 2009

Tracking State Budget News on Twitter, and the Best of the Blogosphere

January 13, 2009

BusinessWeek Features State Business Tax Climate Index; State-Local Tax Reports in Editorial Pages This Week

December 31, 2008

WSJ Columnist Cites Our State & Local Tax Studies, Urges Obama Not to Repeat New Jersey’s Mistakes

December 30, 2008

Tax Foundation’s Website Among the “Online Tax Canon” … and the Best of the Blogosphere

December 29, 2008

Property Taxes: If You Calculate It, They Will Come … and the Best of the Blogosphere

December 16, 2008

Best of the Blogosphere: Property Taxes, Nonpayers and Sanford’s SC Tax Reform Plan

December 15, 2008

Property Tax Map

December 12, 2008