Property taxes are annual fees levied by local governments based on the market value of owned real estate, including land and buildings. These taxes fund essential services such as infrastructure, schools, and public facilities. Local governments assess property values typically on an annual basis, using various methods, including sales comparison and cost estimation, to determine the appropriate tax amount owed. As property values and local tax laws change, so too can the amounts homeowners are required to pay, leading to potential annual fluctuations in tax bills.
Property taxes are based on your home's value and its location.
These taxes support the local government and are used for infrastructure, schools, and other systems.
Property tax amounts may change every year based on local tax laws and your home's value.
To calculate property taxes, the county assessor first must determine the market value of your home.
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