Question

What is the primary source of income for counties and municipalities in Georgia?

A. property tax

B. income tax

C. sales tax

D. capital gains tax

Answer 1

The primary source of income for counties and municipalities in Georgia is option A: property tax.

The property tax is one of the major sources of income for governments. It provides a reliable and stable source of profit. City governments collect these taxes based on the value of real properties (for example homes and buildings) or personal property (for example boats, cars, airplanes, etc).

The property tax is used to pay for services such as public health, safety services and construction of facilities (for example streets, bridges, paved areas, etc).

Answer 2

The correct answer is letter A. The property tax is the main source of income in Georgia, and its value is based on 40% of the market value of the property. The real property is considered to be real state and buildings, and personal property can be considered furniture, aircraft and boats.