What are property taxes used for?

Property taxes are primarily used to fund public services, which encompass a wide range of essential community needs. This includes funding for local schools, public safety services (like police and fire departments), maintenance of public infrastructure such as roads and parks, and other vital services that contribute to the overall quality of life in a community.

When residents pay property taxes, these funds are allocated by local governments to ensure that the necessary services are available to the community for its growth and well-being. The effectiveness and quality of these services are often directly correlated with the amount of revenue generated from property taxes.

While the other options mentioned may relate to real estate in various ways, they do not directly pertain to the primary purpose of property taxes. Assessing homeowner's insurance, calculating property appreciation, and determining rental rates are significant in their contexts, but they do not capture the fundamental function of property taxes in supporting community services.