Property tax revenue is the total money a municipality collects from property taxes, representing the largest single revenue source for most Canadian local governments. Revenue projections are based on the total assessed value of all properties multiplied by tax rates. Property tax revenue is relatively stable and predictable compared to sales or income taxes, which fluctuate with economic conditions. However, it doesn't grow automatically with the economy or inflation, requiring rate increases to keep pace with rising costs. Municipalities forecast property tax revenue carefully during budget planning, accounting for assessment growth from new construction and changes to existing property values.