The Impact of Property Taxes on Local Government Financing
Property Taxes: A Key Revenue Source
The Tax Foundation emphasizes that property taxes play a crucial role in funding local governments and generating revenue in various states. In FY 2022, property taxes accounted for 27.4% of total state and local tax collections, making it the most significant source of tax revenue. Additionally, local tax collections in 2022 were primarily funded by property taxes, representing 70.2% of the total.
Interactive Charts
Explore the interactive charts below to see where people pay the most in property taxes and how rates vary across states:
Read the full report on property taxes by the Tax Foundation