Government Revenue

In Georgia, property taxes are most likely determined based on

the assessed value of the property.

What is the most likely reason the government must establish a budget before it spends money?

to determine how funds should be distributed

In Georgia, income tax is determined based on a person's

yearly income.

A budget surplus occurs when

revenue is greater than spending.

A budget deficit most often occurs when the government

spends more than it collects.

Why is funding from the federal government excluded from Georgia's revenue?

Georgia is unable to allocate the money as it wants.

Georgia spends more than half of its education budget on

K-12 students.

How has technology affected the state funding of K-12 education in recent years?

Schools need funding for up-to-date technology and facilities.

If Georgia's revenue were to drop, how would the budgeting process most likely change?

Spending would be reduced.

Why are property taxes the most important taxes for Georgia's local governments?

They are the primary source of revenue for local governments.

The pie chart shows government spending in Georgia in 2014. What are the two biggest spending categories in Georgia in 2014? Check all that apply.

education health

What does a budget include? Check all that apply.

expected revenue expected spending distribution of funds

What are the primary ways that Georgia raises funds? Check all that apply.

fees and licenses outside funding taxes

Sales tax varies throughout Georgia because some cities and counties

have their own additional sales tax.

What types of taxes are collected in Georgia? Check all that apply.

income tax property tax sales tax

Which type of tax is Georgia's greatest state revenue source?

personal income tax

The government is most likely to save money for the future when

it has a budget surplus.