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

Facts and Figures 2020: How Does Your State Compare?

February 13, 2020

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

December 10, 2019

2020 State Business Tax Climate Index

October 22, 2019

Which Places Pay the Most in Property Taxes?

August 7, 2019

State Tax Changes as of July 1, 2019

July 11, 2019

To What Extent Does Your State Rely on Property Taxes?

May 1, 2019


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