State Real Property Tax

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Which States Tax Real Property?

Nearly all states tax real property. Property taxes are generally levied by the county or city in which your real property is located. Common examples of real property are houses, farms, apartment buildings, restaurants, and shopping centers.

How Can a Reappraisal on My House Affect My Property Taxes?

The value of your real estate is used to assess your real property tax obligation. Physical improvements, such as remodeling or additions, can increase your property's value. Changes in the real estate market may also influence the assessed value of your property. When your property is appraised, improvements and marketplace considerations are used in the valuation of your property, and a higher tax obligation may result from the appraisal.

Taxes can rise even when the value of your property has not changed. Voter-approved bonds in your city and/or county can increase real property tax obligations. Also, property tax rates may increase when the local district's budget increases.

Are There Restrictions on Real Property Taxes?

Many states limit the amount in which your property taxes can increase from year to year. In California, reappraisal of property can occur only when a change-in-ownership occurs or once new construction is complete, and property assessments can not exceed 2% annually. Similarly, Oregon limits the maximum assessed value to no more than 3% annually. Other states have comparable tax relief provisions.

Can an Attorney Help Me With My Real Property Tax Issues?

Every state has its own property tax regulations. A tax lawyer familiar with your state's tax law can help you understand your tax obligations and rights.

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Last Modified: 12-24-2014 02:40 PM PST

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