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In the fifth grade, Paula began to learn to play the clarinet.At first, it felt funny on her lips and the notes that came out of the instrument were very squeaky.She did not let this deter her and she kept at it.Last week, she won first place ribbons for her performances in a statewide music competition.This is an example of ______.
Exemption
A deduction allowed by law to reduce the amount of income that would otherwise be taxed.
Property Taxes
Property Taxes are levies on property owned by individuals or other legal entities, usually based on the value of the property.
Valuation Rate
A rate used to estimate the current value of assets or liabilities for purposes of financial reporting or appraisal.
Market Value
The prevailing rate at which a good or service is available for purchase or sale on the open market.
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