Question

The tax determines the level of taxes imposed on the tax base and is usually expressed as a percentage. What is the term used to describe this tax?

1) Income tax
2) Sales tax
3) Property tax
4) Tax rate

Answer 1

The term that describes the level of taxes imposed on a tax base, which is usually given as a percentage, is the 'tax rate'. It applies to various taxes including income, sales, and property taxes.

Step-by-step explanation:

The term used to describe the level of taxes imposed on the tax base, usually expressed as a percentage, is known as the tax rate. This rate can apply to various types of taxes such as income tax, sales tax, and property tax. Taxes serve as the primary source of revenue for different levels of government and are essential for funding public services and government activities. For instance, on a local scale, taxes fund essential services like police and fire departments, while on a state and federal level, they support education systems and welfare programs respectively.