What are property taxes?
Property taxes, also known as real estate taxes, and ad valorem taxes (Latin for: according to value) are taxes based on the value placed on real property (real estate). These taxes are collected on an annual basis. The Property Appraiser establishes the value of the property. The Board of County Commissioners, School Board, City Commissioners and other levying bodies set the millage rates.
How are property taxes calculated?
In most cases property taxes are calculated by multiplying the property value by the millage rate.
Note:
It is the responsibility of each taxpayer to see that the taxes are paid. In cases where the property owner pays through an escrow account, the owner will receive a copy of the bill for information.
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