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

Arizona Proposition 208 Threatens Arizona’s Status as a Destination for Interstate Migration

October 14, 2020

International Tax Competitiveness Index 2020

October 14, 2020

Tax Modernization: A Key to Economic Recovery and Growth in Nebraska

October 13, 2020

State and Local Tax Ballot Measures to Watch on Election Day 2020

October 5, 2020

Colorado Voters to Decide Fate of Longstanding Property Tax Limit

September 30, 2020

Split Roll Initiative in California Threatens Property Tax Limitations on Commercial Real Estate

September 24, 2020

New Census Data Shows States Beat Revenue Expectations in FY 2020

September 18, 2020

More Countries Target the Property Tax

September 17, 2020

Proposals to Lure Foreigners to Greece Highlight Need to Reform Property Taxes

August 26, 2020

How High Are Property Taxes in Your State?

August 26, 2020

Where Do People Pay the Most in Property Taxes?

August 19, 2020

Nebraska’s Property Tax Compromise Provides Temporary Relief, but Structural Reform Is Still Needed

August 13, 2020

Real Property Taxes in Europe

August 6, 2020

State Income and Sales Tax Revenues Slide in Second Quarter

July 30, 2020

What Can Connecticut Learn from its Neighbors About Property Tax Limitations?

July 15, 2020

CARES Act Conformity Would Promote Economic Recovery in Nebraska

June 18, 2020

New Jersey Considers Bonds Paid for by Statewide Property Tax

June 11, 2020

OECD Report: Tax Revenue in African Countries

May 28, 2020

To What Extent Does Your State Rely on Property Taxes?

May 27, 2020

Reliance on Property Taxes in Europe

April 30, 2020