What is property tax?
Property tax is a tax that is based on a property’s value. It is sometimes called an “ad valorem” tax, which means “according to value.”
The property tax is a local tax imposed by local government taxing districts (e.g., school districts, municipalities, counties) and administered by local officials (e.g. township assessors, chief county assessment officers, local boards of review, county collectors). Property taxes are collected and spent at the local level.
