Property Tax

What Does Property Tax Mean?
A tax assessed on real estate by the local government. The tax is usually based on the value of the property (including the land) you own.

Investopedia explains Property Tax
This tax is mainly used by municipalities for repairing roads, building schools and snow removal, or other similar services.

Related Terms

Ad Valorem Tax
Fair Market Value
Income Tax
Land
Land Value
Millage Rate
Personal Property
Property
Property Tax Deduction
More Related Terms

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