1. Every few years there are new proposals to revamp or completely change the tax codes. One such proposal is to eliminate real property taxes entirely and charge a flat tax of 10 percent on all purchases. Part of these taxes would go to the federal, state, and local governments. Can you fashion an argument for and against such a proposal?

2. Contact your local tax office and find out how they determine their tax rate. What is the tax rate? What types of properties are exempt in your area? What would the real property taxes be for a nonexempt property that is valued at $100,000? When would these taxes be due?

Answer rating: 100% (QA)

Argument for Eliminating Real Property Taxes and Implementing a Flat Sales Tax Simplicity A flat sales tax is easier for most people to understand and ... View the full answer