What is the difference between a property tax and an estate tax?
Responses
A property tax taxes the income from use of a property, while an estate tax taxes the ownership of property.
A property tax applies only once in a lifetime, while an estate tax applies every year the estate is owned.
A property tax applies only when the property is sold, while an estate tax only applies when the property is inherited.
A property tax taxes all property owned, while an estate tax only taxes property transferred upon the death of the owner.
1 answer
The correct response is: A property tax taxes the income from use of a property, while an estate tax taxes the ownership of property.
1 answer