Business Property (Real Estate] Taxes
If your business owns real property, you must pay property tax on this property. In the same way as individuals pay property tax on the assessed value of their homes, businesses pay property tax on the assessed value of their real estate (land and buildings). If real estate is sold, the tax for the year is distributed between the previous and new owners, based on how much of the year they owned the property.
Property taxes are assessed by local entities - towns, cities, counties, villages - for local purposes, such as schools, roads, improvements in infrastructure.
When you purchase real estate for your business, the property will be registered with the appropriate taxing authority and you will receive information on the changes in your assessed value and the amount of tax you owe each year.
Check with your local taxing authority for more information on real estate taxes on your business property. Since property taxes are specific to each state, you might also go to Google and type in "property taxes [state]" for more information.
