Hey ,

Are you curious about what drives the varying property tax rates and bills across different cities in the US? This email is for you.

We dissect the four key factors that play a crucial role in determining property tax rates and bills:

1. Property Tax Reliance: Property tax reliance refers to how much a city depends on property taxes as a percentage of its total revenue. Some cities have more diverse revenue sources, such as sales taxes or income taxes, while others rely heavily on property taxes. The more your city relies on property taxes, the more you are likely to pay.
2. Property Values vs. Tax Rates: Property values affect the tax rate inversely: lower values mean higher rates and vice versa. This is because a city needs to collect a certain amount of revenue to fund its services, and if the property values are low, it has to charge a higher rate to meet its budget.
3. Local Spending and Your Tax Bill: Local spending reflects the preferences and priorities of the residents for public services and amenities, such as education, public safety, parks, and transportation. Some cities spend more per capita than others, depending on their needs and expectations. The more cities spend, the more you pay property taxes. 
4. Classification Matters: Classification means how a city treats different types of properties, such as residential, commercial, or industrial. Some cities have uniform tax rates for all properties, while others have different rates for different classes of properties.

Knowing property tax rates is not enough. You must also know how to save money on the taxes you pay. This is where my team and I come in. Call my office at (202)618-1297 if you need help planning and strategizing your taxes. You can also click the link below to book online.

Hey Entrepreneur! I am Folasade Ayegbusi. I am an Enrolled Agent, Accountant, Ex-insurance Broker, Speaker, and Small Business Growth Strategist. Additionally, I am a Mother, and Entrepreneur.

I have helped entrepreneurs and small business owners save over $25 million dollars in lost revenue, tax assessments, penalties, and interests over the last 12 months. I am confident that I can assist you with all of your accounting needs.