Question

Anne Carter just received a tax bill in the mail from the state of Oklahoma. It is based on the value of the home she lives in and must be paid by the end of the month. What type of tax is this most likely to be?

Answer 1

Answer: Property Tax

Explanation:

Property tax or better still a millage rate is a tax which is placed on the value of a property. Property tax are usually levied on real estate. The tax is levied by the governing authority of the jurisdiction( community, state, county e.t.c). where the said property being taxed is built on. The authority imposing the tax can be a national government, a federated state, a county or geographical region or a municipality.