BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS MATHEMATICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ are taxes collected by the city or county from homeowners to pay for roads, parks, schools, and other public services
A
rate of assessment
B
real estate taxes
C
fire protection class
D
utility cost
Explanation: 

Detailed explanation-1: -Property taxes are levied by cities, counties, and school districts on the properties within their boundaries, and are used by these organizations to provide services. To calculate property taxes, all these levies are added together to work out the total tax rate-known as a mill rate-for a region.

Detailed explanation-2: -In India, owners of real estate properties are subject to pay a property tax. It is an annual charge levied by the Government of India on property owners. This tax is collected by the local government or the Municipal Corporation, whoever is authorised to do so in a given state.

Detailed explanation-3: -A property tax is a tax levied on “real property” (land and buildings, both residential and commercial) or personal property (business equipment, inventories, and noncommercial motor vehicles).

Detailed explanation-4: -Property tax or house tax is the amount of money paid by the property owners to the municipal corporation or the local government of the area where the property is located. Property means all tangible real estate property, an individual’s house, or office building that the owner has rented to someone else.

Detailed explanation-5: -3.1 Property tax is an annual tax on real property. It is usually, but not always, a local tax. It is most commonly founded on the concept of market value. The tax base may be the land only, the land and buildings, or various permutations of these factors.

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