Property tax is levied primarily on a person’s property (land, buildings, houses, etc., as well as tangible personal property such as vehicles and equipment), whether natural or juridical.

Normally this tax is considered a regressive one. You should keep in mind that this is only one of many other expenses that must be taken into account if you own one or more properties.
Property taxes are the largest source of state and local revenue in the country and help fund schools, roads, and other community services and projects. It is worth mentioning that the property tax can vary greatly depending on the state you are in.