Author Question: The ________ tax is a major revenue source for local governments, even though it is considered the ... (Read 78 times)

jparksx · **on:** Jul 9, 2018

The ________ tax is a major revenue source for local governments, even though it is considered the least fair or the worst tax in U.S. public opinion surveys.

A. general property
B. individual income
C. corporate income
D. sales
E. severance

Question 2

Which of the following is true about property tax?

A. Economist Edwin Seligman called the property tax the best tax known in the civilized world.
B. State and local governments do not tax income, property, and sales since all three of these are indicators of power.
C. The general property tax is a minor revenue source for local governments.
D. Calculating property tax is a single-step process where an assessment of the property is conducted.
E. Assessment is the valuation a government places on property for the purposes of taxation.