Property tax payable is classified as a long-term liability because it is related to property, a noncurrent asset.

Name: Property tax payable is classified as a long-term liability because it is related to property, a noncurrent asset.
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Property tax payable is a current liability because it is expected to be paid within a year. While property itself may be a noncurrent asset, the tax related to it is not classified as a long-term liability.

Property Tax Payable Is Classified as a Long-Term Liability Because