USA Property

MoMo Productions | DigitalVision | Getty ImagesOver the last few years, we've seen homes sell at astronomical prices, way above the market value. It's been a housing market that, to say the least, has left many aspiring homebuyers feeling disillusioned — like homeownership is even further off than they thought. Granted, much of this occurred under extraordinary circumstances — during a pandemic that pushed people out of densely populated cities and into suburban homes and a time of record low interest rates.But an economic report by Realtor.com released in March...

Property taxes are the primary tool for financing local government and generate state-level revenue in some states as well. In fiscal year 2019, property taxes comprised 31 percent of total state and local taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. collections in the United States, more than any other source of tax revenue. In that same year, property taxes accounted for 72 percent of local tax collections...