Are you a CPA candidate or accounting student? Check my website for additional resources such PPT slides, notes, practice multiple choices, exercises and T/F questions.
🚀[ Ссылка ]
Connect with me on LinkedIn:
✔[ Ссылка ]
💥Facebook: @accountinglectures
Instagram Account: @farhatlectures
Twitter: @farhatlectures
Email: Mansour.farhat@gmail.com
#cpaexam #governmentalaccounting #accountingstudent

www.farhatlectures.com

Like us on Facebook:
[ Ссылка ]

Visit the website where you can search using a specific term:
[ Ссылка ]

Connect with Linked In:
[ Ссылка ]

Property taxes are the bread and butter of local governments. Although gradually being sup- plemented by other taxes and fees, they still account for approximately 27 percent of local government revenues (see Figure in Chapter 1).
Classified as ad valorem taxes (based on value), property taxes are most typically levied against real property (land and buildings). However, some jurisdictions also include within the tax base personal property—such as automobiles, boats, and business inventories—and intan- gible assets, such as securities and bank deposits.
Property taxes are levied against the assessed value of taxable assets. Most jurisdictions are required to assess (i.e., assign a taxable value to) property at 100 percent of its appraised fair market value. Many, however, assess property as a fraction of appraised value (perhaps in the hope of discouraging taxpayer protests) and then adjust the tax rate upward to offset the reduction in tax base.


imposed non exchange transactions, property tax revenue, revenue recognition for property taxes, revenue recognition for governmental accounting, fines revenues

свернуть