MANAGEMENT

BUISENESS MANAGEMENT

TAXES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which statement is NOT TRUE about property taxes?
A
Property taxes are most often paid only once or twice each year.
B
The fee paid to license a vehicle is an example of property tax.
C
The property tax rate is set by the federal government to be equal in every state.
D
None of the above
Explanation: 

Detailed explanation-1: -Taxpayers in all 50 states and the District of Columbia pay property taxes, but the tax on real property is primarily levied by local governments (cities, counties, and school districts) rather than state governments.

Detailed explanation-2: -1. Ad Valorem Duty: An ad valorem tax is a tax based on the assessed value of an item, such as real estate or personal property.

Detailed explanation-3: -Property Tax, also sometimes known as House Tax, is the tax imposed on real estate owners by the municipal authorities like panchayat, municipality or municipal corporation.

Detailed explanation-4: -Of course, people expect state and local governments to provide services such as police protection, education, highway building and maintenance, welfare programs, and hospital and health care. Taxes are a major source of income to pay for these services and many others that hit close to home.

There is 1 question to complete.