13 Questions
Why is it important for assessors to provide property tax data to analysts?
Assessors maintain data that can be used to quantify the effects of policy changes
What are the two components of the ability-to-pay principle?
Horizontal and vertical equity
Which of the following is true about normative statements?
They can be data-supported
The U. S. Supreme Court struck down "welcome stranger" assessment system (in which property values are only updated upon sale) in West Virginia but upheld the system in California. What was the key difference between the two cases?
The California assessments complied with state law
Which of the following best defines the government economic role of stabilization?
Government influencing economic cycles and overall level of economic activity
What measurement is being expressed in the following statement? State and local taxes are $120 per $1000 of personal income.
Tax burden
Which of the following is true in a state that strictly interprets Dillon's Rule?
The state government must grant authorization for any local government action
In U. S. Census Bureau revenue terminology, what are the two broad categories for general revenue?
Intergovernmental Revenue and Own-Source Revenue
Income tax systems in which people in higher income brackets are taxed at higher rates are most likely:
Progressive
Which of the following best defines the tax evaluation criteria neutrality?
The tax does not distort economic decisions
Which metric indicates the ability of a tax to provide a stable source of revenue during times of economic fluctuation?
Elasticity ratio
Which evaluative criteria is ultimately a cumulative effect, but it can also stand alone as an independent criteria?
Public acceptance
Which power is granted by the U. S. Constitution to both federal and state governments (concurrently)?
Impose taxes
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