Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

What is the purpose of property tax?
Property taxes, at least in Canada, are levied by the municipality or city in which the property is situated.  For many cities, it is a significant source of income. Part of the justification from the municipal point of view is that the land is serviced, in that it generally has city services like water, sewer, garbage collection and the like.  The taxes also commonly pay for city services like libraries, fire and ambulance. The tax rates vary widely across cities, so where your dream house is located may have a large impact on your overall tax bill. Property tax is more-or-less a government imposed lien on your house.  You can be foreclosed on if you are unable to pay.  This is a last resort of course, but can and does happen.