Property tax is assessed against commercial and residential real estate. The amount of property tax varies by each state. Property tax revenue is used to pay for community needs and can include road repairs, school improvements, building new schools, and law enforcement, firefighters and emergency responder salaries.
Property tax can be calculated by multiplying the assessed property value times the state tax rate. For instance, if state property tax is 5-percent and the appraised value of real estate is 0,000, the
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