Property taxes levied by municipal governments constitute a stable and predictable source of funding for essential local services through equitable incremental assessments on the value of real estate holdings.
Basis:
Calculated regularly from independent appraisals of fair market worth with rates adjusted relative to property class and location amenities.
Example:
A luxury waterfront condominium towering above the marina incurred higher property taxes to be funneled towards upgraded coastal protections defending such valuable infrastructure.
Revenues Fund:
Maintenance of roads, parks, utilities, and community infrastructure while promoting responsible land stewardship through incentives to maximize permitted development densities and protect natural areas.