Land tax is a state tax that is calculated based on the unimproved value of land, which means the value of the land itself without any improvements or structures on it. This tax is typically used to fund local government initiatives and services, such as schools, public transportation, and road maintenance. It is not a federal tax, nor is it paid directly to the monarch.

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What Is 'Land Tax

Question 34

Multiple Choice

What is 'land tax'?

A) A state tax payable on the unimproved value of land.
B) A federal tax payable on the gain made on the sale of land.
C) A local government tax on land paid to fund the provision of basic services to that land.
D) An archaic form of tax paid to the monarch.

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