Asked by Cleo E. Rodriguez on Jun 19, 2024
Verified
Property taxes are
A) collected primarily at the federal level.
B) the largest source of tax revenue for local governments.
C) the primary source of federal revenue-sharing funds.
D) used primarily by states to finance state welfare programs.
Property Taxes
Levies on property owned by individuals or entities, typically based on the property's value, and used as revenue for local governments.
Tax Revenue
The income that is gained by governments through taxation, used to fund public services, infrastructure, and government operations.
Local Governments
Administrative bodies governing areas within a country below the level of the state or national government.
- Understand the function of taxes in supporting governmental operations and their effects on government workers.
Verified Answer
RL
Raven LindseyJun 20, 2024
Final Answer :
B
Explanation :
Property taxes are predominantly collected by local governments, such as counties and municipalities, and serve as a major source of revenue for these entities. They are used to fund local services like public schools, police and fire departments, and local infrastructure.
Learning Objectives
- Understand the function of taxes in supporting governmental operations and their effects on government workers.