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

New Online Tools from the Tax Foundation

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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)

Property Taxes on Owner-Occupied Housing by State, 2004 – 2009

Property Tax Revenue Increased As Property Values Fell

Where Do State and Local Governments Get Their Tax Revenue?

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Monday Map: Property Taxes on Housing by State

State Provisions for Property Reassessment

Lowest and Highest Property Taxes

Illinois Should Respond to Recession by Broadening Tax Bases and Spending Frugally, Not by Raising the Personal Income Tax Rate

New Jersey and New York Counties Rank Highest in Property Tax, Louisiana Parishes Lowest

New Census Data: From 2006 to 2008, NY and NJ Counties Rank Highest in Property Taxes on Homeowners

Historical State and Local Revenue Sources

Property Tax on Owner-Occupied Housing, by County, Ranked by Property Taxes as a Percentage of Home Value, 2006-2008 (3-Year Average)

Property Tax on Owner-Occupied Housing, by County, Ranked by Property Taxes Paid, 2006-2008 (3-Year Average),

Where Do State and Local Governments Get Their Tax Revenue?

Local Property Tax Collections Per Capita, Fiscal Year 2007