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.

Related Articles

States Moving Away From Taxes on Tangible Personal Property

Special Report No. 198: Tax Freedom Day 2012

Property Taxes on Owner-Occupied Housing as Percentage of Median Home Value, by State, Calendar Year 2010

State Business Tax Climate Index–Property Tax Index, 2011-2012

Major Components of the State Business Tax Climate Index, FY 2012

Government Takes a Greater Share than Shareholders

Best and Worst States in Property Tax Administration

New York, New Jersey Lead Nation in Property Tax Burden

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes Paid, 2005 – 2009 (five-year average)

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Home Value, 2005 – 2009 (five-year average)

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Income, 2005 – 2009 (five-year average)

Census Bureau Releases 2010 State Tax Collection Data

Property Taxes on Owner-Occupied Housing, by County, Ranked by Property Taxes Paid, 2007 – 2009 (3-year average)

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Household Income, 2007 – 2009 (3-year average)

Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Home Value, 2007 – 2009 (three-year average)

New Online Tools from the Tax Foundation

Recent State Tax Reforms in the United States and Opportunities for California at a Time of Fiscal Challenge (Testimony before California’s Select Committee on Recovery, Reform, and Realignment)

Illinois Considers Sharp Income Tax Increase, Highest Corporate Tax Rate

Property Taxes on Owner-Occupied Housing, by County, 2005 – 2009, Ranked by Property Taxes Paid

Property Taxes on Owner-Occupied Housing by County, 2005 – 2009, Ranked by Taxes as Percentage of Home Value (One year averages)