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

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Re: The total market value of real estate in Altonville has steadily decli [#permalink]

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New post 14 Oct 2017, 08:41
purnachandu41 wrote:
I think B should be the answer.Could you please verify and certify the answer

Choice (C) is correct. The total assessed value has decreased. The percentage of assessed value that was paid as property taxes to the city has not changed. If the total amount has decreased and the percentage of that amount has not changed, then the total collected must have decreased.

As for choice (B), we have no idea what has happened to the other sources of revenue. What if those other sources have decreased much more than revenue from property taxes? In that case, the percentage of Altonville’s yearly revenue that comes from money collected in property taxes may have INCREASED over the past four years. Because of this possibility, choice (B) must be eliminated.
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Re: The total market value of real estate in Altonville has steadily decli [#permalink]

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New post 14 Oct 2017, 11:19
B. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes has declined steadily over the past four years.

The % can remain the same where all other incomes decrease. (EX: 5/50= 10% whereas 10/100=10%.
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Re: The total market value of real estate in Altonville has steadily decli [#permalink]

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New post 03 Jan 2018, 21:18
Four year ago 100 was value of property and tax 20% => prop tax = 20
Now value let us say 60 ( decreased 10 yearly) tax 20% ,which is fixed = 12
value last year 70 => tax 20% => prop tax last year => 14

prop tax 4yr ago = 20
prop tax last year = 14
=>>>>>> option C states same
prop tax now = 12
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Re: The total market value of real estate in Altonville has steadily decli [#permalink]

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New post 07 Jan 2018, 20:14
a classical and common pattern in gmat for 700 questions. That is, "percentage vs amount",
Re: The total market value of real estate in Altonville has steadily decli   [#permalink] 07 Jan 2018, 20:14

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