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Property taxes are the main sources of revenue for state governments.
Taxes on income, sales, and property are the three main tax revenue streams for state and local governments. While sales and property taxes provide for the majority of state tax revenue, property taxes still serve as the primary financing source for local governments, including school districts. Tax rules and changing economic conditions both affect how much money is collected in taxes. State and municipal governments' reliance on tax revenues varies; property taxes account for between 70 and 75 percent of local government tax receipts, including those received by school districts. Sales and income taxes are the main sources of state tax revenue. These many tax levies provide a variety of revenues, and each of these sources typically reacts differently to shifting economic conditions.
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