Key Terms: Chapter 19 Sales, Excise, & Property Taxes

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Key Terms for Chapter 19 Sales, Excise, & Property Taxes
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Assessed Value Value of a property that an assessor sets (usually a percent of property’s market value) that is used in calculating property taxes
Excise Tax Tax that government levies on particular products and services. Tax on specific luxury items or nonessentials
Personal Property Tax that raises revenue for school districts, cities, counties, and the like
Property Tax Tax that raises revenue for school districts, cities, counties, and the like
Real Property Tax that raises revenue for school districts, cities, counties, and the like
Sales Tax Tax levied on consumers for certain sales of merchandise or services by states, counties, or various local governments
Tax Rate Tax as a Percent
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