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

To What Extent Does Your State Rely on Property Taxes?

May 1, 2019

A Property Tax is a Wealth Tax, but…

April 30, 2019

Testimony to the Joint Session of the Nebraska Revenue, Education, and Retirement Committees

April 29, 2019

Iowa Adopts a “Soft” Property Tax Cap

April 29, 2019

Minnesota Considers $1.35 Billion Biennial Tax Increase

April 23, 2019

Why State-for-Local Tax Swaps Are So Hard to Do

April 18, 2019

Texas Considers Options for Reducing Property Taxes

April 15, 2019

A Tradition Unlike Any Other: The Masters Tax Exemption

April 10, 2019

D.C. Property Tax Proposals Should Be Mindful of Base Erosion, Target Simplicity, and Transparency

March 28, 2019

Facts and Figures 2019: How Does Your State Compare?

March 19, 2019

How Much Does Your State Collect in Property Taxes Per Capita?

March 13, 2019

Sweden is Competitive in Spite of a High Tax Burden

November 26, 2018

The TCJA Improved the United States’ International Tax Competitiveness Index Rankings

November 12, 2018

A Post-Brexit Budget for Growth? Not in the UK

November 8, 2018

Results of 2018 State and Local Tax Ballot Initiatives

November 6, 2018

Ranking Property Taxes on the 2019 State Business Tax Climate Index

October 24, 2018

Top State Tax Ballot Initiatives to Watch in 2018

October 22, 2018

Hawaii Court Considers Investment Property Tax on Ballot

October 4, 2018

Minnesota’s Uncompetitive Tax Code Warrants Improvement

October 2, 2018

2019 State Business Tax Climate Index

September 26, 2018