Re: Novice question about property tax
Property taxes vary by state. States that have no income tax rely heavily upon property tax to finance jurisdictions. For example, Texas has property taxes in the 2.5 to 3% range which is applied to 100% of fair market value. Other states like Lousiana take a % of the market value depending on the property type and then apply a levy rate of say 11%. Effectively lousiana has a property tax of about 1%. What state are you looking into? Some states like MS and OK are very lax on property valuation and property taxes in general. Give me an example and I'll help.
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