Question: The elasticity of the property tax base for the town

The elasticity of the property tax base for the town of Elderberry is estimated to be 22. Assuming that this estimate is correct, what effect would a 10 percent increase in the property tax have on property value and tax revenue for Elderberry? Explain what economic factors could cause the results that you calculated.

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  • CreatedAugust 22, 2015
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