Property taxes are a crucial source of revenue for local governments to fund essential services that benefit the community.

• They are typically imposed on real estate, including land and structures.
• Not paying property taxes may lead to foreclosure as the taxes are attached to the property.
• Property tax payments are not fixed and can fluctuate over time.
• Factors such as local government budgets, services provided, property value changes, fraud, renovations, and local assessments can influence tax rates.

It is advisable to thoroughly review the property taxes of a prospective home, especially considering the significant variations that can exist based on the property and its location.