A tax paid to local governments by landowners, homeowners, and businesses.

1 answer

The tax you are referring to is typically known as property tax. Property taxes are levied by local governments—such as counties, cities, and municipalities—on real estate properties. Homeowners, landowners, and businesses pay this tax based on the assessed value of their properties, and it is often used to fund local services such as schools, public safety, infrastructure, and other community services. The rates and regulations governing property taxes can vary significantly depending on the location.