Which of the Following Statements Concerning Property Taxes Is False

question 78

Multiple Choice

Which of the following statements concerning property taxes is false?

• A)Property taxes are ad valorem taxes.
• B)Property taxes are the primary source of revenue for local governments.
• C)Property taxes can be levied on realty or personalty.
• D)None of the above is false.

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Definitions:

Income Mobility

The ability of individuals or families to move up or down the economic ladder within a lifetime or from one generation to the next.

Income Ladder

A metaphorical representation of the distribution of income across individuals or households in a society, indicating levels of wealth or poverty.

Quintile

A statistical value that divides a group of data into five equal parts, each containing 20% of the population.

Transfer Payment

Payments made by governments to individuals without any goods or services being exchanged, such as social security benefits.