Property taxes are a major source of income for local governments, comprising 72% of local tax collected. Property taxes typically fund your local schools and libraries, emergency services, roads, and parks and recreation department. Before you receive your property tax bill, you should receive your home’s value. This value is determined by your tax assessor … Continue reading How are My Property Taxes Calculated?
A real property tax is a tax on the value of the real estate imposed by a local government. Payment can be arranged through the local office imposing the tax.
Property taxes fall into two categories, Secured and Unsecured. A Secured property tax is a tax for a physical property, most often real estate and land. An Unsecured property tax is for personal items, like an airplane, boat, or business. Depending on the location you live, property taxes are paid annually or semi annually. If … Continue reading What Are Property Taxes?
Through the leadership of state government, every state has the authority to determine their tax structure to maximize their revenue. For most state governments, the involvement of citizens through lobbying or engagement can help determine taxes, particularly related to social services and education. One tax, sales tax, occurs statewide in 45 states and is printed … Continue reading Why do taxes differ wildly per state?