How are My Property Taxes Calculated?

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?

Why do taxes differ wildly per state?

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?