Property tax is generally levied by the local municipal authority based on factors like the property's location, size and category (residential or commercial), and is typically payable annually or in instalments depending on local rules.
Keeping property tax payments current is important not only to avoid penalties, but also because outstanding dues can complicate a future sale, since buyers typically verify tax payment status during due diligence.
Specific rates, payment methods and applicable exemptions vary by municipality, so owners should refer to their local municipal authority for exact requirements.
