👉 CPT, or "Commercial Property Tax," is a tax levied on commercial property (such as buildings and other structures) that are used for business purposes. It's calculated based on the value of the property, the percentage of income generated by the property, and any deductions made for depreciation or capital improvements. In general, CPT applies to properties such as offices, retail spaces, manufacturing facilities, and warehouses. The tax is levied at a rate of 2% of the assessed value