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# i expect fireworks Mr. Frank Loren owns a house in the

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CEO
Joined: 15 Aug 2003
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i expect fireworks Mr. Frank Loren owns a house in the [#permalink]  16 Dec 2003, 04:13
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0% (00:00) correct 100% (01:27) wrong based on 2 sessions
i expect fireworks

Mr. Frank Loren owns a house in the small town of Rayleigh Harbor.
None of the residents of Rayleigh Harbor pay any local property
taxes anywhere else. Also, Rayleigh Harbor exempts residents from
local property taxes on their homes if they are over 70 years of age.
Which of the following must also be true?

A) Mr. Loren pays no local property tax in Rayleigh Harbor (though
he may pay such taxes elsewhere).

B) Mr. Loren pays no local property taxes anywhere.

C) If Mr. Loren is over 70 years of age, he pays no local property
taxes anywhere.

D) If Mr. Loren is over 70 years of age, he pays no local property
taxes in Rayleigh Harbor but perhaps he does elsewhere).

E) None of the preceding conclusions follow from the stated
assumptions.
Senior Manager
Joined: 12 Oct 2003
Posts: 251
Location: USA
Followers: 1

Kudos [?]: 6 [1] , given: 0

1
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anandnk wrote ....
Quote:
I believe the answer should be D
You pay local property taxes whether or not you live in that place, as long as you own a property. Local property taxes are paid on the property.
So D correctly states that if he is above 70 he wont pay local property taxes but might pay somewhere else because he may own another property over there

The question clearly states ...
Quote:
None of the residents of Rayleigh Harbor pay any local property
taxes anywhere else. Also, Rayleigh Harbor exempts residents from
local property taxes on their homes if they are over 70 years of age.

The only way he can avoid paying tax in Rayleigh Harbor is if were to be a resident there.
But we also know that if he were to be a resident there then automatically he would be exempted from paying taxes anywhere else. So D does not hold true.

C is also incorrect because he may be over 70 but MAY NOT BE a resident. Owning a property is not necessarily same as being a resident there.

E seems to be the best choice here.[/b]
Intern
Joined: 29 Aug 2003
Posts: 49
Location: Detroit, MI
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Kudos [?]: 2 [0], given: 0

Re: CR : Property Taxes [#permalink]  16 Dec 2003, 04:28
E?

None of the answers mentions that Mr. Loren is a resident of the small town mentioned.

Also, what does "they" refer to in the last sentence - homes or residents? I guess that might not matter here.
Intern
Joined: 12 Jul 2003
Posts: 33
Location: Boston
Followers: 0

Kudos [?]: 1 [0], given: 0

I agree, E, doesn't say where he lives.

Can't be C, cuz he could live in NYC and pay a ton of taxes.
Intern
Joined: 27 Nov 2003
Posts: 34
Location: Moscow
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Kudos [?]: 1 [0], given: 0

Right, it does not say he is a resident of Rayleigh Harbor
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me

SVP
Joined: 30 Oct 2003
Posts: 1794
Location: NewJersey USA
Followers: 5

Kudos [?]: 58 [0], given: 0

I believe the answer should be D
You pay local property taxes whether or not you live in that place, as long as you own a property. Local property taxes are paid on the property.
So D correctly states that if he is above 70 he wont pay local property taxes but might pay somewhere else because he may own another property over there
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