This article is devoted to the analysis of the current problems of property taxation which plays a significant role in the formation of the sources of the budget replenishment. The construction of an effective tax system is the main component of strategy for the economic and social development of the state. The theoretical essence, the role and assignment of property taxation are highlighted. Famous scientists who are involved in the study of experience of the real estate tax operation in Ukraine and other countries and who analyse of property taxation problems are noted. It is determined that the increasing of the role of financial taxes and their share of income is the main direction for the public budgets strengthening and the expansion of financial autonomy in the relevant country’s territories. The national and international dimentions of the property taxation and the particularities of the payment of the real estate which is different from the land plot, the transport tax and the land payment are considered. It is shown that since the start of a full-scale war of the russian federation against our country, the Verkhovna Rada of Ukraine adopted amendments to the legislation which provide a significant reduction of the taxation for the period of the martial law. Dynamics of the local budgets income from local taxes is analyzed during 2018-2021 years, among them are the real estate tax which is different from the land plot and paid by legal entities and individuals who are the owners of residential real estate objects, land tax for legal entities and individuals, rent from legal entities and individuals, transport tax for individuals and legal entities. The key problems and directions for improving property taxation are identified as its charge is incomplete due to which fairness of taxation is not ensured.