Business High School

In which situation would a person pay a higher property tax than he or she did the year before?
A. The value of the person's home increased.
B. The number of dependents the person had increased.
C. The salary the person earned increased
D. The amount the person spent on electronics increased.

Answers

Answer 1
The answer is A the value of a persons home increased.
Answer 2

A person would pay a higher property tax than he or she did the year before when A. the value of the person's home increased.

What is property tax?

Property tax is an ad valorem tax levied on real estate, such as a building or a residential home, that is owned by an individual or another legal body, such as a corporation.

It is an ad valorem tax because it is based on the assessed value of the property.

As a result, the higher the value of a property compared to the year before, the higher the property tax.

Therefore, a person would pay a higher property tax than he or she did the year before when the value of the person's home increased.

Learn more about property tax here: https://brainly.com/question/11544476.

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Related Questions

Which tax is specifically charged on real estate?
Kimberly wants to sell her house. However, the buyer is unwilling to buy the house, saying that the _____ tax levied on the house is taking the price of the house over his budget.

Answers

Answer:

Property tax assessment

Explanation:

Under construction propertiesare taxed at 12%

From my according

The Southwest Clothing Company borrowed a sum of cash on October 1, 2016 and signed a note payable. The annual interest rate was 12% and the company's year Income Statement (accounting period ending December 31) reported interest expense of 1.260 € related to that note. What was the amount borrowed?

Answers

Answer:

$42,000

Explanation:

Calculation for the amount borrowed

Amount borrowed=$1,260/(12% x 3/12)

Amount borrowed=$1,260/0.03

Amount borrowed=$42,000

Note that October 1, 2016 to 31 December 2016 will gives us 3 months

Based on the above calculation $42,000 which is the amount borrowed x 12% x 3/12 = Interest expense amount of $1,260

Therefore the amount borrowed is $42,000

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