A tax paid on the value of a person's home is a(n) _____.A.credit taxB.sales taxC.income taxD.property tax
Question
A tax paid on the value of a person's home is a(n) _____.
A. credit tax
B. sales tax
C. income tax
D. property tax
Solution
To answer the question regarding the type of tax paid on the value of a person's home, we can analyze the options provided:
- Credit Tax: This does not refer to a specific type of tax related to property.
- Sales Tax: This is typically applied to the sale of goods and services, not on property value.
- Income Tax: This is a tax on personal earnings, not related to property ownership.
- Property Tax: This is specifically levied on real estate property based on its value.
Conclusion
The correct answer is D. property tax. Property tax is imposed on real estate and is based on the value of the property owned.
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