Property taxes are the amount that is levied upon any real estate property which the homeowner has to pay annually to the government, or Municipal Corporation of the area.
Property taxes are used as primary means for funding local governments which are used to pay for the necessary public services.
The lion’s share of property tax revenue is typically used to fund public schools. In fact, according to renowned sources, school districts received eighty-three percent of their source revenue from property taxes.
This means, when it comes to local funding for public schools, property taxes make up a vast majority of it.
While property taxes are most known for funding public schools they often contribute towards many other things like public safety including police, EMTs, firefighters, sanitation, maintenance, and a plethora of other things.