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Lauren tried listening to a podcast while waiting for the bus, but colorful signs and messages on passing vehicles continually caught her eye. She was also distracted by a television in a shop window, as well as snippets of conversations from people walking by. All the messages competing for her attention made it hard for Lauren to concentrate on the podcast. Which of the following terms or phrases best describes Lauren's environment?
Wealth Taxes
Taxes levied on the total value of personal assets, including real estate, bank deposits, shares, and other forms of property.
Ad Valorem Taxes
Ad valorem taxes are taxes based on the assessed value of real estate or personal property, commonly used in property tax.
Real Estate
Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.
Corporate Tax System
The regulatory framework governing how businesses are taxed on their profits by the government, including tax rates and allowable deductions.
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