Ad valorem taxes
, more commonly known as property taxes, are levied for the maintenance and operations of the city, including public safety services, roadway maintenance, and culture & recreation. Property taxes are also levied for voter-approved general obligation debt (bonds) such as that used to pay for our city greenspace. All real estate and personal property is taxable unless exempted by law. Real property is land and generally anything that is affixed to the land; personal property is everything not considered real property, usually consisting of inventory and fixtures used in conducting business as well as boats, aircraft, machinery, etc.