37905877
Description
Flashcards by McKenzie Layton, updated more than 1 year ago
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Created by McKenzie Layton
about 2 years ago
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| Question | Answer |
| Sales tax | Tax levied on consumers for certain sales of merchandise or services by states, counties, or various local governments, 505. |
| Excise tax | Tax that government levies on particular products and services. Tax on specific luxury items or nonessentials, 507. |
| Assessed value | Value of a property that an assessor sets (usually a percent of property’s market value) that is used in calculating property taxes, 508, 509. |
| Property tax | Tax that raises revenue for school districts, cities, counties, and the like, 509. |
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