Which of the Following Is True About Property Tax

question 62

Multiple Choice

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.

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