What is Property Tax? A Simple Explanation for Kids and Beginners

Introduction to Property Tax for Kids and Teens
This video explains the concept of property tax in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about property tax, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum. 카지노사이트

What is Property Tax?
How Property Tax Impacts You
Property tax primarily refers to tax that is paid on real estate – but it can also be charged on things like cars and boats.

The amount of property tax depends on the value of the property.

Both individuals and companies have to pay property tax.

How is Property tax calculated?
Property tax is calculated by multiplying the assessed value of the property by the property tax rate.

Property Tax rate is the rate at which the property is taxed and is determined by the local government where the property is located. 안전한카지노사이트

What is the assessed value of a property?
The assessed value of a property forms the basis for calculating property tax. It is the property’s value calculated by a tax assessor who is hired by the local government.

It is reevaluated periodically, and is usually slightly lower than the property’s market value.

Who do you pay property tax to?
Property tax is collected by the local government, which uses this money to fund essential services like law enforcement, the local fire department, libraries, schools, parks, etc.

The money can also go towards infrastructure improvement programs like road and highway construction.

How does property tax impact me?

Property tax is a significant expense to keep in mind when buying a house, because it is something you need to pay in addition to the mortgage payment. 카지노사이트 추천

Even after you pay off the mortgage and fully own your property, you continue to pay property tax.

Also, since property tax is based on the value of your property, it can change over time – and can go up if the property appreciates in value.

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