How do property taxes differ by state or municipality?

Property taxes can vary by state, county, and even city or municipality. Each state and local government sets its own property tax rate and determines the method of calculating the value of a property. The tax rate is usually expressed as a percentage of the assessed value of the property.

In India, property tax is levied by the local municipalities or panchayats. The rate and method of assessment can vary depending on the location of the property. The property tax is calculated based on the annual rental value of the property or the area of the property, and can also take into account factors such as the age and condition of the property.

It's important to note that some states or municipalities may offer certain exemptions or deductions for property taxes, so it's always a good idea to check with local authorities or a tax professional to understand the specific rules and regulations in your area.