Property Tax Breakdown
When you look at property taxes, the federal tax code is 80,000 pages but each town and county can be different. With all these rules and inconsistencies across the states, it’s no wonder we get clients frequently asking questions about property taxes.
Property taxes or ad valorem taxes (Latin for: according to value) are the primary source of funding for the local governments. The funds collected by the local government officials are used to pay for services like:
- Police and fire
- New construction and maintenance of buildings
- Local infrastructure: highways, roads and streets
- Operations: salaries of the local units of government. Continue reading “3 Common Property Tax Questions”