Where do my property tax dollars go?

The property taxes that you pay are used for a number of things such as road construction, the police and fire department, and organized recreation in your area. Fortunately, most or all of your property taxes typically remain inside your community.

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What entities collect taxes in the U.S.?

The IRS collects federal income taxes, states collect their own sets of taxes, and even local governments (such as counties or cities) collect taxes. Taxes can be called different things in different parts of the country, and sometimes even have different names for the same type of taxes.

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Does property location play a role in how property tax laws are applied?

Where property is located may often play a role in how property tax laws are applied. Sometimes, because states and cities may both have a claim on taxing your personal or real property, it may be difficult to clarify where the property is physically ‘located.’ Disputes over property location are often expensive to the taxpayer, especially if a taxpayer owns real property in more than one place, and is trying to take advantage of the most affordable tax laws by choosing the location him or herself.

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Is all real property subject to property tax laws?

Tax laws on property tax vary from state to state. Not all property is taxed. There are enormous differences in taxes on property types in different states. Some states have high taxes on real property (land, homes, houses, apartments, commercial property) and some have low real property taxes. While six states do not have income taxes, there is no single state that gives up the right to collect a property tax.

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