Property Tax Code

The Property Tax Code is a set of laws that governs how property taxes are assessed and collected. It outlines how local governments determine the value of properties, calculate taxes owed based on that value, and manage exemptions and credits that may lower taxes for certain individuals, like seniors or veterans. The code ensures a standardized process for property owners and helps maintain fair taxation practices. It also provides guidelines for appealing tax assessments if property owners believe their taxes are too high. Understanding this code is essential for anyone owning or investing in real estate.