Property tax is money that has to be paid to the government based on:
A. the number of cars a person owns.
B. the value of a person's home or land.
C. the amount of money a person earns.
O D. the cost of a product being purchased.

Answer: B. The value of a person’s home or land.

Explanation:

Property tax is money that has to be paid to the government based on the value of a person's home or land. The correct option is b.

A property tax is an ad valorem tax on the value of a property. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or geographical region or a municipality. Multiple jurisdictions may tax the same property.

Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted to a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the value of land, excluding the value of buildings and other improvements.

Under a property-tax system, the government requires or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value.

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