Which factor does NOT directly influence property taxes?

Property taxes are primarily determined by the assessed value of a property, the local millage rate, and property classification. The assessed value is a calculation of a property's worth, which forms the basis for how much tax is owed. The local millage rate represents the amount of tax per $1,000 of assessed property value and is set by local authorities, thus directly impacting tax calculations. Property classification can also affect tax rates since different types of properties may be taxed at different rates based on their use (e.g., residential vs. commercial).

Interest rates, while they can influence the overall economy and housing market, do not directly determine property tax amounts. Changes in interest rates can affect borrowing costs and home prices, but they do not directly alter the assessed value of individual properties or the local tax rates set by municipalities. This distinction is key to understanding how property taxes are derived and why interest rates are not a direct influencing factor.