A property tax (or millage tax) is levied on the value of property, an ad valorem tax that the owner is required to pay. It is a direct tax.
Direct Tax OR a property tax or real estate tax.
A high property tax rate is generally one that is above 20%. If it is above 20% then it is considered very high. Above 15% can also be considered very high.
A real estate tax millage or what ever the local taxing authority calls it. It is a direct tax. Property tax is an ad valorum tax. An ad valorum tax is based on the value of the good or service or property. The tax is usually imposed on an annual basis and the property's value may be reappraised periodically (usually every year).
A tax, such as an income or property tax, levied directly on the taxpayer.Income tax is a direct tax. Individuals and businesses pay direct taxes to the government on a regular basis and it is calculated on all sources of income accrued by the business or individual.
For all my fellow students, the correct answer is SALES tax. :)
It is a direct tax
direct tax (A+)
Toll tax is a direct tax
property taxproperty taxproperty taxproperty tax
difference b/w direct tax and indirect tax
There are a few differences between real property tax and personal property tax. First, the term "real" usually involves homes, apartments, or land that a person may own. Personal property tax usually refers to personal luxury items such as jewelry. Additionally, vehicles are not considered "real" property. Real property is sort of land-based property. Another example would be a farmhouse or even a bridge.