What are Property Taxes

What are Property Taxes?

Property Taxes are annual levies imposed on assets by local authorities, funding public services like roads, schools, and waste management.

• Assessed Value: Dictates tax obligation.
• Mandatory for Owners: Penalties or liens may arise if unpaid.
• Regional Variance: Rates differ based on location and government rules.
• Potential Deductions: Some jurisdictions allow partial write-offs.

Staying updated with property tax obligations avoids legal complications and preserves ownership rights.