Flashcards
Chapter 19 Key Terms
Cards in this deck (8)
- 1Assessed ValueValue of a property that an assessor sets (usually a percent of property's market value) that is used in calculating property taxes.
- 2Excise TaxTax that government levies on particular products and services. Tax on specific luxury items or nonessentials.
- 3Mill1/10 of a cent or 1/1000 of a dollar.
- 4Personal PropertyItems or possession, like cars, home, furnishings, jewelry, and so on. These are taxed by the property tax ( don't forget real property is also taxed)
- 5Property TaxTax that raises revenue for school districts, cities, and counties.
- 6Real PropertyLand, buildings and son on which are taxed by the property tax.
- 7Sales TaxTax levied on consumers for cetain sales of merchandise or services by states, counties, or various local governments.
- 8Tax RateBudget needed / total assessed value
Information
- Description
- Key terms for Chapter 19: Sales, Excise, and Property Taxes
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- BRANDI MCCAMMON
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