Property Tax History

About Property Tax History

Property taxes are among the oldest forms of taxation. After the Norman Conquest of England in 1066, William the Conqueror commissioned the Domesday Book in 1086 to assess property for taxation. The Domesday Book recorded every piece of property in England. Property taxes evolved from land taxes based on agricultural output to modern ad valorem taxes based on market value. In the United States, property taxes are the primary source of local government revenue, funding schools, police, and infrastructure. Property taxes are generally considered efficient but can be inequitable, particularly for fixed income homeowners in gentrifying areas. Property tax assessment remains contentious, with disputes over valuation methods, frequency of reassessment, and caps on increases.