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# The total market value of real estate in Altonville has steadily decli

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Intern
Joined: 19 Sep 2017
Posts: 27
WE: Account Management (Other)
Re: The total market value of real estate in Altonville has steadily decli [#permalink]

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18 Apr 2018, 21:02
bkk145 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?

Premise: Total market value of real state has declined
Property tax depends on total market value, hence, it has also declined.
“Percentage” collected has not declined.
Let’s say it was 10% of £10k before four years and now it is 10% of £5k. “Percentage” has not declined but the amount collected must have declined.

A. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes did not change over the past four years.—of course it has.
B. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes has declined steadily over the past four years. Still playing on Percentage.
C. The amount of revenue that Altonville collected from property taxes was lower last year than it was four years ago. Matches with pre thought. Correct
D. During the past four years, Altonville officials increased tax rates on other sources of revenue such as retail sales and business profits. Out of scope
E. Altonville will soon require property owners to pay a higher percentage of the assessed value of their property as property tax. Irrelevant
Re: The total market value of real estate in Altonville has steadily decli   [#permalink] 18 Apr 2018, 21:02

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