Question

An example of property tax

• A. Wealth tax
• B. Income tax
• C. Sales tax
• D. Excise duty

Answer 1

The correct option is A Wealth tax

Property tax refers to the annual amount paid by a property owner to the local government or the municipal corporation of his/her area. Property tax is a kind of direct tax levied directly on properties such as real estate property, shop, house, office building, rented properties and land.

It is a tax based on the market value of assets that are owned.

Thus, wealth tax is an example of property tax.

Hence, option A is correct.