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The total market value of real estate in Altonville has

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The total market value of real estate in Altonville has [#permalink] New post 31 Aug 2012, 16:23
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A
B
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D
E

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Question Stats:

47% (02:48) correct 53% (01:50) wrong based on 290 sessions
The total market value of real estate in Altonville has steadily declined over the past four years. This decline has meant that the overall figure on which the city’s property tax is based—the assessed value of that real estate—has also declined. The percentage of assessed value that was paid as property taxes to the city,
however, did not change from year to year during this period.

The information above most strongly supports which of the following?

A. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes did not change over the past four years.
B. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes has declined steadily over the past four years.
C. The amount of revenue that Altonville collected from property taxes was lower last year than it was four years ago.
D. During the past four years, Altonville officials increased tax rates on other sources of revenue such as retail sales and business profits.
E. Altonville will soon require property owners to pay a higher percentage of the assessed value of their property as property tax.


[Reveal] Spoiler:
can an expert please explain how to handle perncetage problems

why is this C

i was assuming D becuase it gives an alternate reason for th increase
[Reveal] Spoiler: OA
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Re: Altonville officials increased tax rates [#permalink] New post 31 Aug 2012, 18:06
C. The amount of revenue that Altonville collected from property taxes was lower
last year than it was four years ago. -Correct , as the assessed value of that real estate has declined but The percentage of assessed value that was paid as property taxes to the city did not change in this 4 year period which implied the amount of revenue collected last year must be lower than it was four years ago.

D. During the past four years, Altonville officials increased tax rates on other
sources of revenue such as retail sales and business profits. - Incorrect, This might be true that the officials increased tax rates on other sources of revenue which resulted in overall revenue increase but the revenue in question is "the Revenue collected from the property taxes (real estate) over the four year period
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Re: Altonville officials increased tax rates [#permalink] New post 31 Aug 2012, 23:06
The total market value of real estate in Altonville has steadily declined over the past four years. This decline has meant that the overall figure on which the city’s
property tax is based—the assessed value of that real estate—has also declined. The percentage of assessed value that was paid as property taxes to the city,
however, did not change from year to year during this period. The information above most strongly supports which of the following?

The question stem was kind of tricky, but after reading it again the it's fairly simple.

I also made the same mistake of selecting D thinking that the amount paid as property taxes to the city didn't change.
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Re: Altonville officials increased tax rates [#permalink] New post 02 Sep 2012, 22:22
Since the assessed value of the real estate declined steadily over the past 4 years and the percentage of assessed value collected as taxes did not change, hence the revenue generated last year should be less than that generated four years ago.
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Re: The total market value of real estate in Altonville has [#permalink] New post 12 Sep 2012, 19:47
venmic wrote:
The total market value of real estate in Altonville has steadily declined over the
past four years. This decline has meant that the overall figure on which the city’s
property tax is based—the assessed value of that real estate—has also declined.
The percentage of assessed value that was paid as property taxes to the city,
however, did not change from year to year during this period. The information
above most strongly supports which of the following?
A. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes did not change over the past four years.
B. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes has declined steadily over the past four years.
C. The amount of revenue that Altonville collected from property taxes was lower
last year than it was four years ago.
D. During the past four years, Altonville officials increased tax rates on other
sources of revenue such as retail sales and business profits.

E. Altonville will soon require property owners to pay a higher percentage of the
assessed value of their property as property tax.


can an expert please explain how to handle perncetage problems

why is this C

i was assuming D becuase it gives an alternate reason for th increase


The percentage of the tax value did not change .

If the percentage was 50 earlier i.e we can say 100/200

Now the value has decreased,however the percentage remains same - 50% i.e now it can be 10/20 or 50/100 .

The revenue from the taxes has surely decreased
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Re: The total market value of real estate in Altonville has [#permalink] New post 14 Sep 2012, 03:13
Hi,you all shared really nice posts,I got so many things from your posts.so thanks
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Re: The total market value of real estate in Altonville has [#permalink] New post 19 Sep 2012, 07:17
market value of real estate has declined, so has the assessed value, but the percentage of tax( tax/assessed value* 100) has not changed

This clearly means collected taxes were also low. This is exactly what is given in C.
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Re: The total market value of real estate in Altonville has [#permalink] New post 19 Sep 2012, 23:44
ankit0411 wrote:
venmic wrote:
The total market value of real estate in Altonville has steadily declined over the
past four years. This decline has meant that the overall figure on which the city’s
property tax is based—the assessed value of that real estate—has also declined.
The percentage of assessed value that was paid as property taxes to the city,
however, did not change from year to year during this period. The information
above most strongly supports which of the following?
A. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes did not change over the past four years.
B. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes has declined steadily over the past four years.
C. The amount of revenue that Altonville collected from property taxes was lower
last year than it was four years ago.
D. During the past four years, Altonville officials increased tax rates on other
sources of revenue such as retail sales and business profits.

E. Altonville will soon require property owners to pay a higher percentage of the
assessed value of their property as property tax.


can an expert please explain how to handle perncetage problems

why is this C

i was assuming D becuase it gives an alternate reason for th increase


The percentage of the tax value did not change .

If the percentage was 50 earlier i.e we can say 100/200

Now the value has decreased,however the percentage remains same - 50% i.e now it can be 10/20 or 50/100 .

The revenue from the taxes has surely decreased



Hi

If you say C is correct then what is wrong with B?
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Re: The total market value of real estate in Altonville has [#permalink] New post 04 Nov 2013, 02:00
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Re: The total market value of real estate in Altonville has [#permalink] New post 06 Nov 2013, 07:22
getgyan wrote:
ankit0411 wrote:
venmic wrote:
The total market value of real estate in Altonville has steadily declined over the
past four years. This decline has meant that the overall figure on which the city’s
property tax is based—the assessed value of that real estate—has also declined.
The percentage of assessed value that was paid as property taxes to the city,
however, did not change from year to year during this period. The information
above most strongly supports which of the following?
A. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes did not change over the past four years.
B. The percentage of Altonville’s yearly revenue that comes from money collected in
property taxes has declined steadily over the past four years.
C. The amount of revenue that Altonville collected from property taxes was lower
last year than it was four years ago.
D. During the past four years, Altonville officials increased tax rates on other
sources of revenue such as retail sales and business profits.

E. Altonville will soon require property owners to pay a higher percentage of the
assessed value of their property as property tax.


can an expert please explain how to handle perncetage problems

why is this C

i was assuming D becuase it gives an alternate reason for th increase


The percentage of the tax value did not change .

If the percentage was 50 earlier i.e we can say 100/200

Now the value has decreased,however the percentage remains same - 50% i.e now it can be 10/20 or 50/100 .

The revenue from the taxes has surely decreased



Hi

If you say C is correct then what is wrong with B?

As I understand it, B isn't necessarily true because you don't know what the yearly revenue was.
If all of the parts that make the revenue declined by the same percentage as the property tax, then B is false....
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Re: The total market value of real estate in Altonville has [#permalink] New post 24 Jan 2014, 03:10
It is true property is declined from last few years that discourage investors. It has some drawbacks as well as some benefits. Each has its own view. Well thanks for sharing such significant information.
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Re: The total market value of real estate in Altonville has [#permalink] New post 04 Apr 2014, 02:33
For a good Explanation of this question , please refer to the below link

http://www.beatthegmat.com/total-market ... 52553.html
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Re: The total market value of real estate in Altonville has [#permalink] New post 04 Apr 2014, 08:25
Isn't this supposed to be an inference question?
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Re: The total market value of real estate in Altonville has [#permalink] New post 04 Apr 2014, 10:43
Option C.
Well if the %age of taxes remains same.But the total amount on which that %age is calculated declines,it implies there is a decline in absolute amount of taxes paid.

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Re: The total market value of real estate in Altonville has   [#permalink] 04 Apr 2014, 10:43
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