But property taxes are not the same for like properties or for every owner.
Property taxes provide much of the revenue used to fund local and state governments.
Alternatively, if property values decline, then government programs tend to be squeezed or there is pressure to raise income and sales taxes to make up for short-falls. Bank Rate Monitor Get today's rates How much you pay for property taxes depends on the value of your home and also local tax policies. In the usual case, a property value is established by government assessors. Let me show you. Experts blame a lack of education and they say marketing designed to lure those who can afford to borrow is also snaring less disciplined borrowers who should avoid over-extending themselves.