Glossary · Taxes
What is Property tax?
Property tax is an annual tax charged by your municipality based on your home's assessed value.
Definition
Local governments levy property taxes to fund services like roads, schools, and emergency response. The amount is based on your property's assessed value and the local tax rate, and is usually paid annually or in installments.
Assessments can change over time as values rise or fall, so your tax bill may shift year to year. Keeping records helps with budgeting and with claiming any eligible deductions.
When property tax matters
- Budgeting for the full cost of homeownership
- Understanding your annual assessment
- Tracking deductible expenses
With Homeprint
How Homeprint helps with property tax
Homeprint stores your property tax statements and assessments, making budgeting and tax time far easier.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Property tax — FAQ
Keep learning
Related terms
Own your home with confidence
Create your free Homeprint account and bring everything about your home together.