Vervet County Levies a Real Property Tax Based on the Following

question 60

Multiple Choice

Vervet County levies a real property tax based on the following schedule. Which of the following statements is false?

• A)If Mr.Clem owns real property valued at $112,500,his average tax rate is 3%.
• B)If Ms.Barker owns real property valued at $455,650,her average tax rate is 2.1%.
• C)If Ms.Lumley owns real property valued at $750,000,her marginal tax rate is 1%.
• D)None of the choices are false.

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Definitions:

Invest

Allocating resources, usually money, with the expectation of generating an income or profit.

Scrap Value

The estimated residual value of an asset after it has reached the end of its useful life, often associated with the material worth of its components.

Charge

A fee or cost for a service rendered or a penalty for a wrongdoing.

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