Blog > What Are Property Taxes and How Are They Calculated?
Property taxes fund local services like schools, police, and infrastructure. They’re based on a home’s assessed value and the local tax rate, which varies by municipality. Assessments are updated periodically, and improvements or market appreciation can increase them. Homeowners can often appeal assessments if they believe they’re inaccurate. Understanding your property tax structure helps with long-term budgeting.
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