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Which factors have a direct impact on how much you pay in property taxes on a home? Select all that apply.

A. the assessed value of your home
B. your annual income
C. the property tax rate where you live
D. how much your neighbor pays
E. the number of people in your household

1 Answer

2 votes

Final answer:

Property taxes on a home are directly affected by the assessed value of the home and the property tax rate in the area. Factors such as annual income, what neighbors pay, and household size do not have a direct impact.Hence, the correct answer is option C.

Step-by-step explanation:

The factors that have a direct impact on how much you pay in property taxes on a home include A. the assessed value of your home and C. the property tax rate where you live. Both of these factors impact your property tax bill. The assessed value of your home is determined by a government official, typically a local assessor, and represents the value on which taxes will be levied. The property tax rate, set by local authorities, is applied to this assessed value to calculate the amount of tax owed. Your annual income, how much your neighbor pays, and the number of people in your household, do not directly affect your property tax bill.