Even If Property Tax Rates Are Not Changed, the Amount

question 96

True/False

Even if property tax rates are not changed, the amount of ad valorem taxes imposed on realty may not remain the same.

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Definitions:

Investment

The allocation of resources, usually money, into something with the expectation of generating income or profit in the future.

Capital

Assets used in the production of goods and services, such as machinery, buildings, or tools.

Production Efficiency

A situation where the economy is utilizing all of its resources efficiently, producing what people want at the lowest possible cost.

Production Possibility Frontier

Describes the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.