Question

People who own homes pay _______.
A) Water tax
B) General tax
C) Education tax
D) Property tax

Answer 1

Hint: A tax is a governmental organization's mandatory financial charge or another sort of levy imposed on a taxpayer (an individual or legal entity) to fund government spending and related public expenses. Failure to pay taxes, as well as evasion or resistance to taxation, is illegal.

Complete answer:
Let us analyze the given options:
Option A) Water tax: This is not the correct option because water tax is paid when there is a water supply in your home. The water tax is included in the total tax.
Option B) General tax: This is not the correct option because A general tax is a government levy that provides no unique benefit to the taxpayer and instead supports government activities that benefit everyone. It is a source of revenue for the government. All sovereigns have the ability to levy a general tax.
Option C) Education tax: This is not the correct option because the government imposes an education cess on the basic tax liability in order to raise additional income to fund primary, secondary, and higher education. Corporations, like individuals, are obligated to pay this cess every year at rates specified during yearly budgets.
Option D) Property tax: This is the correct option because The annual amount paid by a landowner to the local government or municipal corporation in his region is known as property tax. All physical real estate property, including his home, office building, and properties he has rented to others, is included in the property.

In India, the property tax is assessed and imposed by the municipal corporation of a specific area on a yearly or semi-annual basis. The tax amount is determined by the area, construction, property size, and structure, among other factors. The money raised is primarily used for public services such as road repairs, school construction, and sanitation.

People who own homes pay property tax. Thus the correct answer is option ‘D’.

Note: Property owned by the federal government and vacant land are normally exempt. Lighting, water, and drainage taxes are all included in the property tax. A national government, a federated state, a county or geographical region, or a municipality are all examples of this.