With respect to real property taxes: (1) explain "assessed value"; (2) explain the similarities and differences between a tax exemption and a tax credit; and (3) discuss what factors a government would consider in deciding whether to offer a tax exemption or tax credit and, if so, how it decides which abatement method to use.

Answer rating: 100% (QA)

Explanation 1 Assessed Value The assessed value of a property is the dollar value assigned to it by a municipality for the purpose of determining prop... View the full answer