Property taxes are taxes that homeowners or property owners pay on their real estate or personal property, such as cars, boats, or planes.

The tax amount is based on the value of the property and is typically used to fund local government services such as schools, police and fire departments, road maintenance, and other public services.

Property taxes can be paid annually, semi-annually, or quarterly depending on the jurisdiction, and failure to pay property taxes can result in penalties, interest, and even foreclosure.