TAXES: LOCAL

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Compute the sales tax for the prices and rates given below. 1. $299 4% 2. $6,750 7% 3. $76.50 5.2% 4. $18.32 3.9% 5. $5.95 6.2% 6. $13.89 4.3% 7. $768.43 3.7% 8. $6.49 5.8% 9. $23.86 7.1% 10.$12.98 3.9%

Work: Take the total cost times the percentage. 1. $299 x 4% ( 0.04) = $11.96 2. $6,750 x 7% (0.07)= $472.50 3. $76.50 x 5.2% (0.052)= $3.98 4. $18.32 x 3.9% ( 0.039)= $0.71 5. $5.95 x 6.2% (0.062)= $0.37 6. $13.89 x 4.3% ( 0.043)= $0.60 7. $768.43 x 3.7% (0.037)= $28.43 8. $6.49 x 5.8% ( 0.058)= $0.38 9. $23.86 x 7.1%( 0.071)= $1.69 10. $12.98 x 3.9% ( 0.039)= $0.51

Choose three types of taxes local governments may impose.

sales tax personal property real property

Which of the follow statements are true of local taxes?

Counties and cities may charge taxes. Local taxes could be sales tax. Local taxes are expressed as a percent. Local tax may be property assessment.

Typically, a worker pays more in Federal and state taxes than he does for housing.

True


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