A tax that consumers pay when buying a product. The merchant (store) then gives the tax money to the government.
100
What is an expenditure?
An expenditure is something that the government uses revenue on. It normally is a public service, infrastructure improvement, etc...
100
Why are taxes important for a communities survival?
Without taxes, essential programs like sewage treatment would not occur.
100
Why do larger communities tend to have better public services and welfare?
More people to pay taxes
100
What is the most well known source of revenue?
Taxes
200
What is property tax and why is it important?
Property tax is tax on your property, generally land and houses you own.
200
What is public welfare?
Human services like health care and maintaining living conditions are considered public welfare.
200
What is an entitlement program?
A program like health and income benefits to people who are not very well off.
200
Which play a larger part in operating schools, the state or the school district?
School District
200
What is a retirement plan and how does it get revenue?
Workers pay for future retirement benefits and state uses this investment for other things until they must pay the person.
300
Why are taxes important?
Because taxes give the government, local and state, money to spend on benefits like welfare and infrastructure.
300
What is an example of a public service a local government might provide?
Fire department, police, water treatment, sewage treatment, sanitation
300
How many states don't have sales tax?
5
300
What is the tax that makes up most of government revenue?
Income tax
300
What is intergovernmental revenue?
Money one government (ex. state or local) gets from a different level of government (ex. federal). This is one of the most essential sources of revenue.
400
What is a Personal Property tax?
Taxes on movable, smaller yet expensive property. Things this tax might cover are stocks, jewelry, and large pieces of furniture. This tax is not used in many places.
400
What is a subsidy?
State pays some of the college tuition for its citizens, this money comes from state revenues.
400
How many states don't have income tax?
7
400
If the federal government makes highways, why do our state taxes help highways?
Maintenance and Repair
400
What is another form of revenue beside taxes, intergovernmental revenue, and retirement funds?
Traffic fines and fees and permit fees
500
About what percentage of the price of an item is sales tax?
Generally about 2-8%
500
Where does a lot of local revenue go? (Hint:It directly affects kids)
Education
500
What is "real property"
Lands, buildings, "real" estate
500
What is a special assessment?
A local fee citizens will pay for a service like building a road.