Property taxes are typically determined based on the monetary value of the property.
What is taxation?
Taxation is the involuntary fees that are levied on individuals or business firms by the government of a particular country, so as to generate revenues that can be used to fund public projects, institutions and activities.
The types of tax.
In Economics, there are different types of tax levied on individuals or business firms by the government, and these include the following:
In conclusion, it is important to note that property taxes are typically determined based on the monetary value of the property.
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