37866747
Descrição
FlashCards por Eli Southard, atualizado more than 1 year ago
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Criado por Eli Southard
mais de 1 ano atrás
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| Questão | Responda |
| Assessed Value | Value of a property that an assessor sets that is used in calculating property taxes |
| Excise Tax | Tax that government levies on particular products and services. tax on specific luxury items or nonessentials |
| Mill | 1/10 of a cent or 1/1000 of a dollar. In decimal, it is .002. In application: Property tax due= Mills x .001 x Assessed valuation |
| Personal Property | Items of possession, like cars, home, furnishings, jewelry, and so on. these are taxed by the property tax |
| Property Tax | A tax that raises revenue for school districts, cities, counties, and the like |
| Real property | Land, buildings, and so on, which are taxed by the property tax |
| Sales Tax | tax levied on consumers for certain sales of merchandise or services by states, counties or various local governments |
| Tax rate | Budget needed/Total assessed value |
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