Do property taxes and real estate taxes mean the same thing? No they do not and are very different in fact. Many folks confuse these two terms because land is a really common term used for property. These two words are used interchangeably; hence, real estate and property tax are always being confused upon. Paying for your property tax nevertheless is very different as what you will need to spend for your real estate tax. The Nettles & Co Property Tax Consulting has been working hard to reduce the burden of property taxes for individuals, investors, asset managers, banks, and realtors.
Property tax is in fact your own personal property tax. As a normal citizen, you're taxed for personal belongings that are portable and movable. These items may include your car, truck, furniture and even livestock. Property tax is often connected with a business; thus, you are taxed for private things which are used for trade and industry. A motorcycle, for instance, that's used for food delivery in a company must be included in your property tax record. The same holds for heavy equipment used by a construction company. Mobile things that are used to create income are therefore taxable.
While private property tax involves movable things, real estate tax is based on property. Real estate tax refers to the tax one must pay for his home, ranch, farm and a number of other properties that cannot be moved or transferred. Mobile homes, therefore, don't belong in this category as they can be transferred from place to place.