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

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

July 1, 2010

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

June 30, 2010

New Jersey Millionaire’s Tax

June 21, 2010

Monday Map: Property Taxes on Housing by State

June 21, 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 3, 2010

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

June 3, 2010

Rahm Emanuel Behind on Property Taxes

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

March 30, 2010

Lowest and Highest Property Taxes

March 17, 2010

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

March 11, 2010

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

March 4, 2010

States Put Charitable Exemptions Under Scrutiny

March 2, 2010

Hawaii Floats Another Real Estate Tax

February 9, 2010

Instead of fair share, tuition tax more like extortion

December 18, 2009