Property tax revenue collected by state and local governments was higher in the first quarter of 2026 according to the Census Bureau’s quarterly summary of state and local tax revenue. Total tax revenue for state and local governments increased 1.5% over the quarter, with individual income tax revenue up 1.4%, sales tax revenue down 0.3%, and corporate income tax revenue up 2.1%. Property tax revenue rose the most over the quarter, up 2.7%.
Property tax collections totaled $214.6 billion in the first quarter, an increase from a revised $209.0 billion estimate in the fourth quarter. Property tax collections were up 4.6% from one year ago. The share of property tax revenue as a share of total revenue was 37.5% in the first quarter. This share has been relatively stagnant at 37% over the past three years.
Property taxes typically make up the largest share of the total tax revenue for state and local governments, with most property tax collected by local governments. The second largest revenue generator was shared between income tax and sales tax, totaling $154.8 billion (27.1%). Corporate income tax rounded out the remaining 8.2% at $47.1billion.
