Center for State Tax Policy

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.


Featured Research

America’s Progressive Tax and Transfer System: Federal, State, and Local Tax and Transfer Distributions

March 30, 2023

Close to Home: A Short Guide to Property Taxes

March 27, 2023

Facts & Figures 2023: How Does Your State Compare?

March 23, 2023

Sources of U.S. Tax Revenue by Tax Type

February 27, 2023

2023 State Business Tax Climate Index

October 25, 2022

State Tax Ballot Measures to Watch on Election Day 2022

October 24, 2022


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