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?A.The property tax rate will be the same for person A and person B.B.Person B will pay at a higher property tax rate than person A.C.Neither person A nor person B will have to pay property tax.D.Person A will pay at a higher property tax rate than person B.

In which situation would a person pay a higher property tax than he or she did the year before?A.The number of dependents the person had increased.B.The value of the person's home increased.C.The salary the person earned increased.D.The amount the person spent on electronics increased.

Neighborhoods A and B are next to each other in a large urban area.  If Neighborhood A is more gentrified than Neighborhood B, which of the following is most likely?A.Housing and rental prices are more affordable in Neighborhood A than in Neighborhood B.B.Residents have resided in Neighborhood A for a longer median duration than in Neighborhood B.C.More lower-income residents have been displaced from Neighborhood A than from Neighborhood B.D.The tax base for Neighborhood A is smaller than the tax base for Neighborhood B.

What is one major similarity between property tax and sales tax?A.Both are types of regressive taxes.B.Both are based on gross income.C.Both are types of tax assessment.D.Both are based on taxable income.

The property tax on a house is an amount determined by the local government based on a percentage of which of the following?Land value and bank feesBank interest and insurance feeBuilding and land valueBuilding value and interest rate charged

A person has gotten a new job with a much higher salary. He plans to spend his extra money on a new car and a great stereo system for his apartment.Which statement best describes the tax situation this person will likely face in the next year?A.He will pay more in both income tax and sales tax.B.He will pay more in both property tax and income tax.C.He will pay more in sales tax but less in income tax.D.He will pay more in income tax but less in property tax.