--- title: "Property Tax Basics: What You Need to Know" description: This article explores the key information for understanding property taxes, including who pays, what it covers, and how it's calculated. Learn everything you need to know about property taxes today! image: https://pdxdirectrealty.com/hubfs/Imported_Blog_Media/image_284-3.png --- [Skip to content](https://pdxdirectrealty.com/articles/property-tax-key-information#main-content) [![PDX Direct Realty](https://pdxdirectrealty.com/hs-fs/hubfs/Black%20logo%20-%20no%20background-2.png?width=150&height=147&name=Black%20logo%20-%20no%20background-2.png)](https://pdxdirectrealty.com/) - Services Show submenu for Services - [Listing Services](https://pdxdirectrealty.com/listing-services) - [Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Additional Services](https://pdxdirectrealty.com/additional-services) - [About Us](https://pdxdirectrealty.com/about-us) - [Customer Portal](https://pdxdirectrealty.com/customer-portal) Open main navigation Close main navigation - Services Show submenu for Services - [Listing Services](https://pdxdirectrealty.com/listing-services) - [Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Additional Services](https://pdxdirectrealty.com/additional-services) - [About Us](https://pdxdirectrealty.com/about-us) - [Customer Portal](https://pdxdirectrealty.com/customer-portal) - [Contact Us](https://pdxdirectrealty.com/contact-us) [Contact Us](https://pdxdirectrealty.com/contact-us) [All posts](https://pdxdirectrealty.com/articles/all) December 22, 2023 # Property Tax: Key Information By  PDX Direct  ·  1 minute read This article explores the key information for understanding property taxes, including who pays, what it covers, and how it's calculated. Learn everything you need to know about property taxes today! ## Property Tax: Key Information Property tax is a tax that one must pay for the value of their real estate property. It's paid to the local state or provincial government and part of the money from the property and sales taxes is used to fund things such as public schools, public health services, road infrastructure, police and fire services and other public services. ## Who Pays Property Tax? Property tax is paid by all those who own real estate property – homeowners, landlords, businesses, etc. Generally, the county or municipality in which the property is located collects the tax. The tax is based on the assessed value of the property, which is usually different from the actual market value. Property owners will typically receive a bill twice a year, either in the mail or electronically. ## Calculating Property Tax The amount of the property tax most often depends on the assessed value of the property. This means that the tax is based on the estimated market value of the property when it is assessed (often times, this value is lower than its actual market value). This assessed value is multiplied by the tax rate set by the local municipality or county. The tax rate is usually expressed as a percentage and may vary from one locality to another. ## Exemptions and Incentives Property tax can be reduced or exempted for various reasons. For instance, those who are at the lower end of the income scale may be eligible for certain tax exemptions or deductions. Furthermore, those who use their property for business purposes may be eligible for certain tax incentives such as tax credits. It's important to check with the local governing body to understand if you are eligible for any tax exemptions or incentives. ## Conclusion Property tax is an important source of revenue for local governing bodies. Those who own real estate property need to make sure that they understand their tax bill and any exemptions or incentives they may be eligible for. It's important to keep in mind that the amount of property tax one pays is based on the assessed value of the property, which may be different from the actual market value. ## More Articles to Consider Reading [Property Taxes: Understanding the Variations](https://pdxdirectrealty.com/articles/property-taxes-understanding-the-variations) [Home Appraisal Process: What to Expect](https://pdxdirectrealty.com/articles/home-appraisal-process-what-to-expect) [How Much Is My House Worth? Understanding Property Valuation](https://pdxdirectrealty.com/articles/how-much-is-my-house-worth-understanding-property-valuation) [Comparative Market Analysis: Understanding Property Values](https://pdxdirectrealty.com/articles/comparative-market-analysis-understanding-property-values) [Oregon City Farmers Market](https://pdxdirectrealty.com/articles/oregon-city-farmers-market) [Second Mortgage: Exploring Additional Financing Options](https://pdxdirectrealty.com/articles/second-mortgage-exploring-additional-financing-options) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://pdxdirectrealty.com/articles/property-tax-key-information) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://pdxdirectrealty.com/articles/property-tax-key-information) [twitter icon](https://twitter.com/intent/tweet?url=https://pdxdirectrealty.com/articles/property-tax-key-information) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://pdxdirectrealty.com/articles/property-tax-key-information) [envelope icon](mailto:?body=https://pdxdirectrealty.com/articles/property-tax-key-information) [![PDX Direct Realty](https://pdxdirectrealty.com/hs-fs/hubfs/Black%20logo%20-%20no%20background-2.png?width=150&height=147&name=Black%20logo%20-%20no%20background-2.png "PDX Direct Realty")](https://pdxdirectrealty.com/) [List@PDXDirectRealty.com](mailto:List@PDXDirectRealty.com) (503) 847-2199 M-F 8am-5pm PST 3225 SW 87th Ave. #25653 Portland, OR 97225 Our Services - [Property Listing Services](https://pdxdirectrealty.com/listing-services) - [Home Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Business Listing Services](https://pdxdirectrealty.com/contact-us) - [Additional Services](https://pdxdirectrealty.com/additional-services) Company Information - [About Us](https://pdxdirectrealty.com/about-us) - [Contact Us](https://pdxdirectrealty.com/contact-us) - [Terms of Service](https://pdxdirectrealty.com/terms-of-service) - [Privacy Policy](https://legal.hubspot.com/privacy-policy) - [Real Estate Articles](https://pdxdirectrealty.com/articles) **Customer Portal** - [Submit Listing Data](https://pdxdirectrealty.com/submission-options) - [Submit Photos](https://pdxdirectrealty.com/photo-submission) - [Submit Changes](https://pdxdirectrealty.com/submit-changes-form) - [Submit Documents](https://pdxdirectrealty.com/document-submission-form) Copyright © 2026, PDX Direct Realty - All Rights Reserved - Licensed in the State of Oregon ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "PDX Direct", "url" : "https://pdxdirectrealty.com/articles/author/pdx-direct" }, "dateModified" : "2023-12-22T19:42:33.915Z", "datePublished" : "2023-10-16T07:00:00.000Z", "headline" : "Property Tax Basics: What You Need to Know", "image" : [ "https://pdxdirectrealty.com/hubfs/Imported_Blog_Media/image_284-3.png" ], "mainEntityOfPage" : { "@id" : "https://pdxdirectrealty.com/articles/property-tax-key-information", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://pdxdirectrealty.com/hubfs/Color%20logo%20-%20no%20background.png" }, "name" : "PDX Direct Realty" } } ``` ```json { "@context" : "http://schema.org", "@type" : "Article", "author" : { "@type" : "Person", "name" : [ "PDX Direct" ] }, "datePublished" : "2023-10-16T07:00:00+0000", "description" : "This article explores the key information for understanding property taxes, including who pays, what it covers, and how it's calculated. Learn everything you need to know about property taxes today!", "headline" : "Property Tax: Key Information", "image" : "https://44162913.fs1.hubspotusercontent-na1.net/hubfs/44162913/Imported_Blog_Media/image_284-3.png", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://44162913.fs1.hubspotusercontent-na1.net/hubfs/44162913/Black%20logo%20-%20no%20background-2.png" }, "name" : "PDX Direct Realty" }, "url" : "https://pdxdirectrealty.com/articles/property-tax-key-information" } ```