Explain how the ad valorem tax works.
What will be an ideal response?
An ad valorem tax is a system of taxation in which each property is taxed "according to value." Values are determined by the county property assessment office and a rate is set per $100 of assessed value. For instance, an established ad valorem rate of $0.50 and $0.75 per $100 of assessed value for a house valued at $100,000 by the county property assessment office will generate a $500 tax bill.
You might also like to view...
Which of the following refers to the way that votes are translated into seats. The mechanical effect of all electoral systems systematically punishes small parties and rewards large parties?
A. freezing hypothesis B. Duverger’s theory C. mechanical effect of electoral laws D. strategic effect of electoral laws
Dr. Firstly conducts a study on the effect of stress on adolescents. Dr. Secondly decides to replicate this study using the same operational definitions and procedures but testing adults. This will be an example of
A) exact replication. B) construct replication. C) systematic replication. D) conceptual replication.