What are property taxes?
The Bankrate.com financial term of the day is: "property taxes."
It's said that taxes are inevitable, like death. However, death comes just once, while taxes come many times and in many different ways. Income tax is based on the money you make, sales tax is based on what you buy, and property taxes are based on what you own. These state and local taxes are calculated from the value of your property, which can include your real estate, boats, cars, recreational vehicles and business inventories.
Property taxes are a cost of ownership used to help pay for government below the federal level.
To find out about property taxes in your state, visit the taxes section at Bankrate.com.
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