Final answer:
Property taxes are taxes imposed on assets and affect all property owned by the owner. They are generally imposed by local governments and are considered progressive taxes.
Step-by-step explanation:
A property tax affects all property both real and personal of the owner, such as a judgement lien or federal or state income liens. Property taxes are taxes imposed on assets and are usually imposed by local governments based on the fair market value of property. They are considered progressive taxes as they tend to be concentrated among higher income groups.