Homeowners typically pay property taxes to help finance state and local governments.
Further Explanation:
Property taxes:
Property taxes are levied on home, property or land by the government. The property tax is levied by the government of that particular area on the properties. Property tax is a source of income for the government to finance the local government authorities, especially to improve the education sector.
Justification for the correct and incorrect answer:
reduce the amount of their mortgages: This is an incorrect answer.
Property tax are levied by the government of that particular area in order to help the state and the local government, not to reduce the amount of the mortgages.
avoid having to make a down payment: This is an incorrect answer.
Property tax are levied by the government of that particular area in order to help the state and the local government, not to avoid having to make a down payment.
help finance state and local governments: This is a correct answer.
The property taxes are levied on the property or land by the authorized government authority of that area in order to finance the state and the local governments and for their improvements like in education sector.
help finance the campaigns of politicians: This is an incorrect answer.
Property tax is levied to help the state and the local government, especially to finance the education sector. Political campaigns of politicians funds are arranged by some other sources.
Learn More:
1. Tax from selling property
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2. Property taxes
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3. Revenue from property taxes
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Answer Details:
Grade: High School
Chapter: Property tax
Subject: Business Studies
Keywords:
Homeowners typically pay property taxes to, reduce the amount of their mortgages, avoid having to make a down payment, help finance state and local governments, help finance the campaigns of politicians.
