Though referred to as the same tax, property tax, and real estate tax usually depend on who is using it.
Like real estate, tax is charged on immovable property, including land and structures permanently attached to the ground, such as houses or buildings. If you own a house, you pay real estate tax directly to your local tax assessor or indirectly with your monthly mortgage payments.
While the property tax is an annual tax imposed on movable assets like mobile homes, vehicles, boats, planes, etc., the portion of your vehicle's registration or license fee based on the vehicle's value is considered a personal property tax.
Real estate taxes and property taxes are terms that most people use interchangeably because they do not know the difference. Real estate tax is the term that describes the tax payed annually by a homeowner. It is the tax paye on assess value of his or her home. His amount paid varies based on the type of house and the location of the house.
However, property tax covers many other factors that real estate tax does not cover. It covers factors such as: vehicles, furniture, stocks and bonds. The country determines the amount paid by multiplying the percentage of local tax rate by the tax assessment value of the property. Hope this helps.
Essentially, real estate taxes and property taxes are the same; however, the IRS uses the term real estate tax. Most people call it a property tax and it has to be charged on the immovable property. Real estate taxes are paid to anything attached to the land.
Property taxes are taxes on privately owned property that can be moved and not connected to the area. Real estate taxes are paid directly to the local tax assessor or with monthly mortgage payments. Property taxes are an annual tax imposed on moveable assets.