Taxes that are based on a proportion of the value of the property ?Select one:a.none of the choicesb.appraisalc.ad valoremd.collection
Question
Taxes that are based on a proportion of the value of the property?
Select one:
- a. none of the choices
- b. appraisal
- c. ad valorem
- d. collection
Solution
To determine which option refers to taxes based on a proportion of the value of the property, let's analyze each option provided:
-
None of the choices: This option suggests that none of the other answers are correct, which we need to evaluate.
-
Appraisal: This is the process of evaluating a property's value, but it is not directly a type of tax.
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Ad Valorem: This is a Latin term meaning "according to value." Ad valorem taxes are indeed taxes based on a percentage of the assessed value of the property. This is commonly seen in property taxes.
-
Collection: This term refers to the process of gathering taxes owed, rather than specifying a type of tax based on property value.
Conclusion
Among the options provided, "Ad Valorem" is the correct answer, as it specifically refers to taxes that are calculated based on the value of the property.
Final Answer
c. Ad Valorem
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