Land and Property Tax

Land and Property Tax is a tax imposed by governments on real estate, including land and buildings. The amount taxed is usually based on the property's assessed value, which is determined by local authorities. These taxes help fund essential public services, such as schools, roads, and emergency services. Property owners must pay this tax regularly, often annually or semiannually. The rates and rules can vary widely depending on the location and specific regulations of each jurisdiction, influencing local revenue and community development.