Asked by Daphanie Lewis-Daniels on Jul 08, 2024
Verified
The basic source of state government's revenue is the property tax.
Basic Source
Refers to the primary or fundamental origins of information or data used in research and analysis.
Property Tax
A tax on the value of property (capital, land, stocks and bonds, and other assets) owned by firms and households.
- Familiarize yourself with the significant sources of funding and expense allocations for local, state, and federal governmental bodies.
Verified Answer
RM
Roger MikhailJul 11, 2024
Final Answer :
False
Explanation :
The basic source of state government revenue varies, but it often includes income taxes, sales taxes, and various fees, rather than relying primarily on property taxes, which are more commonly a significant source of revenue for local governments.
Learning Objectives
- Familiarize yourself with the significant sources of funding and expense allocations for local, state, and federal governmental bodies.
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