What taxes are the major source of revenue for virtually all local government,cities,counties,and special duties?
A)Property
B)Ad valorem
C)Severance
D)Selective sales

Question

Quizplus · Accepted Answer

Property taxes are the major source of revenue for almost all local governments, cities, counties, and special districts. Property taxes are levied on the value of real property, including land, buildings, and structures. These taxes are used to fund various local services, such as schools, public safety, roads, and parks. Ad valorem taxes (B) are a type of property tax, but they are not the major source of revenue for local governments. Severance taxes (C) are taxes imposed on the extraction of nonrenewable resources, such as oil, gas, and minerals, and are not typically a major source of revenue for local governments. Selective sales taxes (D) are taxes on specific goods or services, such as alcohol or tobacco, and are usually collected by state governments. They are not a major source of revenue for local governments.

What Taxes Are the Major Source of Revenue for Virtually