Question

Person A earns $100,000 per year, while person B earns $45,000 per year.
Both people own homes in the same city. Which conclusion is most likely true
for these people when they pay their property taxes?
O A. Neither person A nor person B will have to pay property tax.
O B. Person B will pay at a higher property tax rate than person A.
C. Person A will pay at a higher property tax rate than person B.
D. The property tax rate will be the same for person A and person B.

Answer 1

Answer:

$C. \: Person \: A \: will \: pay \: at \: a \: higher \: property \: tax \: rate \: than \: person \: B.$

Answer 2

The correct option is C.

Person A will pay a higher property tax rate than person B.

Property taxes

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation. Most commonly, property tax is a real estate ad-valorem tax, which can be considered a regressive tax. It is calculated by a local government where the property is located and paid for by the owner of the property.

Property Tax Example

For example, if the property tax rate is 4% and your house's assessed value is $200,000, then your property tax liability equals (. 04 x $200,000) or $8,000. The assessed value is often computed by incorporating the purchases and sales of similar properties in nearby areas.

Learn more about property taxes here https://brainly.com/question/13887483

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