Property Taxes are a major consideration for those interested in investing in any type of real estate. Imposed by the local government, Property Taxes vary by property type, location, and the value of the property itself. This means that the owner of a property with a higher value will be required to pay more in Property Taxes than someone whose property value is less. Although this is true, everyone pays Property Tax at the same flat percentage rate. Taxpayers include private homeowners, landlords, and business owners. The money collected from this tax is used for a number of programs by the local government. A large portion of the money collected goes towards city and county government funding, funding public schools, and general community improvements such as maintenance. There is a maximum taxation limit by local legislation for all Property Taxes, however, every municipality (including the city, county, and school district) has the right to impose a separate Property Tax. Any investor interested in purchasing a real estate investment should consider Property Tax when calculating expenses and profit as the owner of the property will be responsible for paying this tax.