12.2 Financing State and Local Governments

Taxes imposed when a person dies and wills property to heirs are called _____.

inheritance and estate taxes

In recent years more and more states have turned to _____ to pay their expenses, and now billions of dollars are coming from them with states retaining about one-third of the money as proceeds.

lotteries

What schools are typically within a local school district and offer a certain instructional program or a special instructional strategy?

magnet schools

Taxes levied on those that extract natural resources such as coal, oil, timber, and gas from the land are called _____.

severance taxes

Counties, townships, cities, and states collect some of their money from licenses and fees and state-operated businesses, but about half of state revenue comes from _____.

taxes

This program works with the local school board to provide funding as no money is given to parents but parents may choose which school their children attend.

Charter Schools

This reform does not go as far as vouchers, but it still provides publicly funded alternatives to standard public schools.

Charter Schools

Critics say that this program causes teachers to "teach to the test," and that creativity in the classroom is inhibited.

National Student Testing

This reform advocates that students be given national exams in various subjects to measure their accomplishments by an objective standard.

National Student Testing

Types of Taxes: This type of tax is controversial because other types of property, such as stocks, bonds, and bank accounts, generally are not taxed.

Property Taxes

Types of Taxes: This type of tax provides the chief source of income for local governments today and is levied on land, buildings, and personal dwellings.

Property Taxes

Types of Taxes: They are the most important source of revenue for states and is placed on various products for which customers pay.

Sales Taxes

Types of Taxes: Today 45 states have this kind of tax that applies to most goods, although food is usually excluded, and sometimes clothing is exempt.

Sales Taxes

What are the chances in having the winning ticket in the Powerball Lottery?

1 in 292,000,000

T or F: South Carolina assesses income taxes over 5 brackets with the lowest brackets incurring no taxes.

False

T or F: South Carolina counties collect local taxes on their own without help from the state's Department of Revenue.

False

T or F: South Carolina does not offer nursing home credit as a tax break.

False

T or F: South Carolina imposes no casual excise tax on the fair market value of any motor vehicles, motorcycles, boats, motors or airplanes transferred between individuals.

False

T or F: In Hawaii the state pays about 90% of educational expenses, as compared to New Hampshire, where only about 20% is paid by the local school district.

False "Hawaii the state pays about 90% of educational expenses, as compared to New Hampshire, where 90% is paid by the local school district."

T or F: Inequalities between affluent and needy areas do not have an effect in the education gap across America.

False "Inequalities between affluent and needy areas have created an education gap across America."

T or F: Military defense is a budget item for state and local governments.

False "Other big budget items for state and local governments are the following: - Public welfare - Health care - Highways - Police and fire protection - Interest on debt - Utilities and liquor stores"

T or F: Funding for education comes primarily from federal government and it also gives a great deal of financial and administrative support to schools.

False "Funding for education comes primarily from the local school district budget, but most state governments give a great deal of financial and administrative support to schools."

T or F: South Carolina tax returns are due May 15 or the next business day if that date falls on a weekend or holiday.

False Tax returns are due on April 15th

Types of Taxes: This type of tax is generally progressive; that is, it is graduated so that the rate goes up with the size of the income.

Income Taxes

What must a student attain to meet the profile of a South Carolina Graduate? (Choose three answers.)

- Life and career characteristics - World class skills - World class knowledge

What are three educational options that South Carolina offers to families? (Choose three answers.)

- charter schools - virtual education - magnet schools

Two of the following are sources of income for counties, townships, cities, and states. (Choose two answers.)

- grants from the federal government - lotteries

Through what primary means can students meet the profile of a South Carolina Graduate? (Choose two answers.)

- through school choice options - through personalized learning

Types of Taxes: This type of tax is imposed by all but a handful of states on personal and corporate incomes.

Income Taxes

T or F: Because most schools are funded by property taxes, many prosperous communities are able to collect more taxes than are poor communities, where property values are much lower.

True

T or F: Critics maintain that the unequal situation among communities creates inequities in the quality of schools, resulting in inadequate education for poor children.

True

T or F: Local and state tax money pays for police protection, education, highway building and maintenance, welfare programs, and hospital and health care.

True

T or F: Part of the reason as to why state and local governments in the US provide most of the funding for education is that the traditional belief that communities need to take care of their own children.

True

T or F: Public education is the single largest expenditure for state and local governments across the nation.

True

T or F: South Carolina assesses property taxes of primary residences at 4% of fair market value.

True

T or F: South Carolina charges 6% on taxable income between $12,120 and $15,160.

True

T or F: South Carolina's state sales tax rate is 6% for most purchases.

True

T or F: Taxing citizens is one of the concurrent powers of government, which means that the federal, state, and local levels all have the power to tax.

True

T or F: The single biggest expenditure in all states is education, with the average state and the localities within it spending just less than one-quarter of its budget for public schools.

True

T or F: There is no inheritance tax in South Carolina.

True

T or F: There is no tax assessed on the first $2,910 of taxable income.

True

What online educational program was developed in South Carolina to provide students with flexible and rigorous online learning opportunities that will help them acquire the knowledge, skills, and characteristics necessary for college and career readiness?

VirtualSC

Opponents of this program argue that it drains additional funds from communities that most need them and allows parents to use public money to send their children to religious schools.

Vouchers

This program provides parents with a set amount of money to pay for their child's education in a public or private school of their choice.

Vouchers

Most states get more than a quarter of their income from _____ that often go for building projects, such as roads, bridges, and dams, and for education, health care, and welfare.

federal grants

What type of school are public schools that focus on specific programs or instructional strategies and operate through sponsorship of a public school district, the South Carolina Public Charter School District, or a public or independent institution of higher learning?

charter schools

What educational initiative gives students the opportunity to attend a school in their district that is outside of their attendance zone, and is available at the discretion of the school district, and in most instances, parents assume the responsibility of providing transportation?

district school choice

Taxes imposed on gasoline, liquor, automobiles, and cigarettes are called _____.

excise taxes