All categories

2 years ago

Revenue from property taxes is used to fund

2 answers:

8 0

Revenue from property taxes is used to fund public schools and other services. In many states, property tax revenue help funds figherfighters, police, maintenance, road construction, and local government staff salaries. Property taxes are a way for the state to make extra money to fund these people and their important jobs.

Vlada [557]2 years ago

8 0

<u>Option (A) is correct. The revenue from the property tax is used for public schools and other services. </u>

Further Explanation:

Property taxes:

Property tax is a local government tax which is imposed on the real estate owned within the jurisdictions. local government charges the property taxes annually. The rate of the property tax by the local government and the funds collected from the property taxes are the main source of local government's income. Real estate includes the land and buildings.

Use of revenue from property tax:

The local or state government collects the revenue of the property tax. Therefore, the application of fund is done by the local government. Local government uses the funds for the welfare of that specific state. They use it for the public services of the state such as public safety, funds distribution to local not-for-profit entity, distribution of the funds to school and colleges.

<u>Thus, the revenue is used for the public schools and other services. </u>

Justification for the current and incorrect option:

Public schools and other services: This is the correct option. The state government will spend the funds for the welfare of the state.

Highway repairs and pollution controls: This is an incorrect option. Federal government deals with the highway repair.

Social Security and Medicare: This is an incorrect option. This public service comes under the authority of federal government.

Medical research and development: This is an incorrect option. This public service comes under the authority of the federal government.

Learn more:

1. Learn more about the state income tax

brainly.com/question/2996312

2. Learn more about the profit from the sales of the property

brainly.com/question/2617534

3. Learn more about the components of the rental housing agreement

brainly.com/question/2358162

Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Property Tax

Keywords: Revenue, from, property, taxes, is, used, to, fund, public, schools, and, other, services, highway, repairs, and, pollution controls, Social, Security, and Medicare, medical, research, and development.

You might be interested in

A developer buys the last five vacant lots in a subdivision and constructs a large, expensive home on each lot. The homes sell f

Mashutka [201]

Answer:

Progression

Explanation:

Progression in real estate occurs when the property in a given area improves in value as a result of more expensive property bring built in the area.

This is one major way real estate appreciates in value. Some property owners wait for others to develop the area and naturally their own property appreciates in value.

In this scenario the developer buys the last five vacant lots in a subdivision and constructs a large, expensive home on each lot. The homes sell for what are record-setting high prices for the area.

8 0

2 years ago

g The "monetary base" is simply: a. the total of all currency in circulation, outside banks b. the total vault cash held among a

Zanzabum

Answer:

e. the total of currency in circulation, plus depository institution reserves and vault cash

Explanation:

Monetary base is a concept in money supply that measures highly liquid assets in an economy.

It includes all cash that is in circulation in the economy and those deposits that are held as reserves by the central bank from commercial banks. Cash in bank vaults are also included because they are readily available to the economy.

For example if there is $200 million in circulation and there is $13 billion in the central bank as reserves from commercial banks, the total monetary base is $13.2 billion

6 0

3 years ago

In the ______________, households receive goods and services and pay firms for them.

ad-work [718]

Never gunna give you up never gunna let you down, sorry I don’t know the answer, oops…

4 0

2 years ago

Sandra is a production manager at a soda manufacturing and bottling plant. One of her duties is to create a monthly inventory re

GaryK [48]

Answer:

Accuracy

Explanation:

Sandra as a production manager is responsible to make a list of material received from the supplier. For an accurate list, it is important that the supplier must provide her with the detail of every inventory they provided along with the recipes. In the previews month, the supplier provided an erroneous list which leaked detail and in this case, her report cannot be considered authenticate or reliable because it lacked accuracy.

4 0

2 years ago

Let's assume that a carpenter borrowed $2 comma 000 to be paid off in a year to finance a machine that would make him work fas

Hoochie [10]

Answer:

The carpenter earned an extra $100.

Explanation:

Since this problem deals with a one-year loan with an yearly interest rate, it can be treated as a simple interest problem. For simple interests, the final value (Vf) can be found by multiplying the initial value (Vi) by one plus the interest rate (i) as shown below:

$V_{f}= V_{i}*(1+i)\\V_{f}=2,000*(1+0,15)\\V_{f}=2,300$

To find how much extra money the carpenter made in the first year, one should subtract the final value of loan from the $2,000 dollars down payment plus the extra $400 he collected for the year

$Earnings = 2,000+400-2,300 = 100$ .

Therefore, the carpenter earned an extra $100.

6 0

3 years ago