Asked by dreya flores on May 06, 2024
Verified
The largest source of local government's revenue is the sales tax.
Sales Tax
A tax imposed by governments on the sale of goods and services, added to the retail price.
- Fathom the criticality of tax freedom day and the principal revenue generators for government at the local, state, and federal tiers.
Verified Answer
KH
Kevin HuangMay 13, 2024
Final Answer :
False
Explanation :
The largest source of local government revenue is typically property taxes, not sales taxes. Property taxes are based on the value of real estate and sometimes personal property, and they provide a significant portion of the funding for local services such as schools, police, and fire departments.
Learning Objectives
- Fathom the criticality of tax freedom day and the principal revenue generators for government at the local, state, and federal tiers.