When you purchase your first home, you become aware that you are required to pay for the privilege of owning a home. That payment comes in the form of property taxes.
Property taxes are a revenue source for most local governments. Whether you live in a city, a town, a village, or a parish, you are likely charged a property tax. Property tax revenues usually fund for local services such as police and fire departments, schools, infrastructure repair, recreational facilities, and other local governmental costs.
To consider your property tax situation, let’s look at the basic tenets of property tax charges.
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