Abstract: Property tax is universally known as a local source of generating revenue at the lowest tier of government. The performance of property tax in advanced countries is pretty good compared to unsatisfactory result in developing countries. This study compared the performance of property tax in OECD and non-OECD countries. The methodology used was mainly the review of results of recent research studies conducted in some specific countries. Findings indicated that property tax is doing pretty well in many OECD countries and is very excellent in some of the countries, the tax performs unsatisfactory in many non-OECD countries and very poor in some of the non-OECD countries. Thus, OECD countries yields property tax return higher than non-OECD countries due to high level of urbanization and industrialization.