2467208
Descrição
FlashCards por dylan_earl, atualizado more than 1 year ago
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Criado por dylan_earl
mais de 9 anos atrás
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| Questão | Responda |
| What are the two *types* of taxes | One time taxes and Annual taxes |
| HST and GST are One time taxes T/F | False HST and LTT are one time taxes paid upon purchase |
| Property taxes are the largest and most important revenue source for municipalities T/F | True |
| Four Components of Property Taxation for Ontario Model | 1. Provincial Government: Passes legislation 2. Municipal Property Assessment Corp: Determines current value assessments 3. Municipalities: Determine revenue requirements 4. Assessment review board: Handles assessment appeals |
| Difference between sale price and market value | Price buyer and seller agree to in one particular transaction is sale price. Market value is usually appraised, using other sales in the area etc. |
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