“Explaining the Complexities of Property Tax Calculations” – Route Fifty

Property Taxes

“Many people believe the property tax is the most onerous tax as it has no direct relationship to one’s annual income. Most property taxes are collected and used at the local levels of government, including municipalities, counties and school districts. And it cannot be readily reduced and is very difficult to control.

“According to the Tax Foundation, property taxes account for 31 percent of all U.S. state and local tax collections—trailed by the sales tax (23.5 percent), the individual income tax (23.5 percent) and the corporate income tax (3.7 percent), and other sources (18.2 percent).”

Here’s a fairly comprehensive look a property taxes.

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