Taxes on Real and Personal Property

Property taxes are primarily imposed by state and local governments on the assessed value of real and personal property. These taxes support local services like police, fire departments, and schools. Property taxes can be levied annually or as a one-time payment, often known as ad valorem taxes. The right to impose these taxes is granted by federal and state constitutions, although the federal government typically does not levy property taxes.

What constitutional powers allow state and local governments to tax property?

Why does the federal government generally not charge property taxes?