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abhi332
- Master | Next Rank: 500 Posts
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Property taxes are typically set at a flat rate per $ 1,000 of officially assessed value. Reassessments should
be frequent in order to remove distortions that arise when property values change at differential rates. In practice,
however, reassessments typically occur when they benefit the government - that is, when their effect is to
increase total tax revenue.
If the statements above are true, which of the following describes a situation in which a reassessment should
occur but is unlikely to do so?
(A) Property values have risen sharply and uniformly.
(B) Property values have all risen - some very sharply, some less so.
(C) Property values have for the most part risen sharply yet some have dropped slightly.
(D) Property values have for the most part dropped significantly; yet some have risen slightly.
(E) Property values have dropped significantly and uniformly.
be frequent in order to remove distortions that arise when property values change at differential rates. In practice,
however, reassessments typically occur when they benefit the government - that is, when their effect is to
increase total tax revenue.
If the statements above are true, which of the following describes a situation in which a reassessment should
occur but is unlikely to do so?
(A) Property values have risen sharply and uniformly.
(B) Property values have all risen - some very sharply, some less so.
(C) Property values have for the most part risen sharply yet some have dropped slightly.
(D) Property values have for the most part dropped significantly; yet some have risen slightly.
(E) Property values have dropped significantly and uniformly.
What you think, you become.
