Final answer:
General real estate property taxes levied for the operation of the government are called special assessment taxes. These taxes are imposed on the fair market value of real estate and are an important source of revenue for governments at various levels. They are used to fund government activities and the provision of public services.
Step-by-step explanation:
General real estate property taxes levied for the operation of the government are called special assessment taxes. These taxes are imposed on the fair market value of real estate and are collected by municipal governments to raise revenue. They are an example of a local tax and are based on the value of the property owned by an individual or corporation.
Property taxes are considered progressive as they tend to be paid by higher income groups. They are used to fund the activities of the government at various levels, such as providing common services like police or fire departments and maintaining public parks. However, the reliance on property taxes can be problematic due to their highly visible and unpopular nature, their variability based on economic health and property values, and the tax-exempt status of certain properties like colleges and churches.
Overall, property taxes are an important source of revenue for governments and play a crucial role in financing public services. They vary widely across state and local governments, with some relying more on property taxes, some on sales taxes, and some on income taxes.