Real Estate Taxes Represent the Largest Single Source of Revenue

question 41

Multiple Choice

Real estate taxes represent the largest single source of revenue for a large portion of local governments. Most property taxes are applied in relation to the value of the property, or in other words, they are:

• A) effective tax rates
• B) ad valorem taxes
• C) tax-exempt
• D) regressive

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Definitions:

Endorse

To give support or approval to something or someone, often by writing a signature on a document to authorize its validity or transfer.

Check

A special draft that orders a bank (the drawee) to pay a specified sum of money to the payee from the drawer’s account.

Unqualified

Without any conditions, limitations, or reservations; often referring to an endorsement or opinion that has no restrictions.

Blank Endorsement

An endorsement on a financial instrument with only the signature of the endorser, making it payable to whoever holds the document.