A
property tax (or
millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a
federated state, a county or geographical region, or a
municipality. Multiple jurisdictions may tax the same
property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value.