Property Tax

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Property Tax

Property tax is a tax collected by local governments that applies to property ownership. The taxes are then used by the local government to support local needs such as public schools, roads, and community safety. How much you will pay in property taxes depends upon several factors, including where you live and how much you paid for your property.

All states in the United States collect property taxes. In some cases, there may be cause for a homestead exemption, or a tax break, on a particular property. However, this is only in limited circumstances, and the homestead exemption can only be used for a primary residence.

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