Property tax is a local tax on real estate—your home, land, rental properties, or commercial buildings. Unlike income tax, which is based on what you earn, property tax is based on what your property is worth. The tax rate and how value is calculated vary significantly by location, which is why the same house can have very different tax bills in different states or counties. Understanding how your local government assesses property value and sets tax rates helps explain why your bill changes year to year.

These articles explain how property assessments work, what factors affect your tax amount, how homeowner exemptions and deductions reduce what you owe, and why some properties are taxed differently than others. You'll learn the difference between assessed value and market value, how to read your tax bill, and what happens if you disagree with your assessment.