Center for State Tax Policy

Business 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

Wisconsin Considers Standard Deduction Increase, TPP Tax Reduction

Ranking Property Taxes on the 2020 State Business Tax Climate Index

Kansas Tax Modernization: A Framework for Stable, Fair, Pro-Growth Reform

Results of 2019 State and Local Tax Ballot Initiatives

Will West Virginia Reduce the Tax Burden on Manufacturing?

State and Local Tax Ballot Measures to Watch on Election Day 2019

Testimony: Wisconsin’s Property Tax System and its Implications for Revenue Stability, Opportunity, and Growth

2020 State Business Tax Climate Index

States Should Continue to Reform Taxes on Tangible Personal Property

State Tax Changes as of July 1, 2019

Texas Legislature Abandons Tax Swap, Advances Property Tax Cap

To What Extent Does Your State Rely on Property Taxes?

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

Iowa Adopts a “Soft” Property Tax Cap

Minnesota Considers $1.35 Billion Biennial Tax Increase

Indiana Chips Away at Tangible Personal Property Taxes

Does Your State Tax Manufacturing Machinery?

Ranking Property Taxes on the 2019 State Business Tax Climate Index

Top State Tax Ballot Initiatives to Watch in 2018

2019 State Business Tax Climate Index