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

Unpacking the State and Local Tax Toolkit: Sources of State and Local Tax Collections

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2017 State Business Tax Climate Index

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How High Are Property Taxes in Your State? (2016)

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Median Property Taxes by County

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