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Residential Property
Property designated for living or dwelling for individuals or families.
Regressive Tax
A tax system where the tax rate decreases as the taxpayer’s income increases, placing a higher relative burden on those with lower incomes.
Tax Schedules
Detailed charts or tables used by taxpayers to determine their tax obligations based on their income levels.
Economy
A system of production, distribution, and consumption of goods and services within a particular geographical region.
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