Question

What is the importance of property taxes in funding school districts? In 150 words

Answer 1

Housing plays an important role in funding education and public services. According to the Census data, an average homeowner pays annual property tax of 1.04 per cent of the value of their home.A significant of it goes to finance education.

On a national basis, the directly targeted property taxes are responsible for 65 per cent of the local school revenue and 29 per cent of all school funding. Many states also rely on property tax revenue thar are collected by the local governments, States that place less importance to property taxes receive a greater share of financing from national government.Property tax collections are relatively more important for small school districts.

Thus. healthy housing markets play an important role in financing education.