The Economic Tradeoffs of Property Tax Reform

The Economic Tradeoffs of Property Tax Reform

How do property taxes work in the United States, and what are their economic consequences? This AIER Explainer explores how property taxes are enforced, how much revenue they generate, the debate among economists about whether property taxes are “good” taxes, and steps lawmakers can take to keep property tax burdens reasonable.What Property Taxes AreProperty taxes are taxes on the assessed value of property. Currently, only the value of real est…