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

Question	Answer
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

Resource summary

	Created by Kyra Louthan about 2 months ago