Sort of. Property taxes vary from state to state, from county to county and in some cases from town to town. In general they cover local "property related" services - police, fire, municipal government, schools, often rubbish pick-up (but not always), other community services (libraries, local road works, parks and recreation boards, etc.).

In some areas, the town assesses all the property tax and there is one rate (usually a percentage of the "assessed value" which is based on "fair market value" as of the last assessment date). In other areas, you are charged by each individual "assessment district" based on the exact location of your property. Town A may be covered by a variety of school districts in those states where the schools aren't town-based. So your bill would be composed of: town rate, school district rate, the garbage district rate, the police district rate, water district rate etc. etc. All for the individual districts that provide the various services.
Cheers,
Bev