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

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The total market value of real estate in Altonville has [#permalink]

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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: OA

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

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New post 26 Aug 2007, 20:44
Between B and C.

For B, we dont know abt the other sources for income for the district. So I'll have to go for C.

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

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New post 26 Aug 2007, 21:19
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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?

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.


C. its clear and straight C.

since the value is decreased year by year since the last four years and the tax rate is constant, then the tax in succeding year is lower than the same in previous year.

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

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I'll go with (C).

(B) says that The percentage of Altonville’s yearly revenue has declined.

how can we say this???

lets the the there was a decline in other sources also.......so the percentage may remain same

whereas

(C) says the The amount of revenue that Altonville collected from property taxes has reduced.

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

So I go with (C)

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

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New post 27 Aug 2007, 10:04
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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?

A. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes did not change over the past four years.
This does not explain the reason why the property tax figure has declined

B. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes has declined steadily over the past four years.
Its clearly stated that the percentage did not change

C. The amount of revenue that Altonville collected from property taxes was lower last year than it was four years ago.
This clearly indicates that though the % is not changed the figure has declined

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.
Out of scope

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

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New post 27 Aug 2007, 10:12
The %age of assessed value has not changed, its the value itself, so the actual amount came down.
C.

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

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New post 27 Aug 2007, 13:03
OA=C
Great job.

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

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New post 26 Jul 2010, 08:16
Could anybody explain why A is wrong?
thanks
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Re: The total market value of real estate in Altonville has [#permalink]

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New post 27 Jul 2010, 04:43
Not A

A. The percentage of Altonville’s yearly revenue that comes from money collected in property taxes did not change over the past four years.


because

The % could have decreased - if other souces increase in revenue. or revenue from property tax decrease( as in dis case), with other souces remaining constant.

Increase : others souces decrease ( nore than property tax)

Remain same. - Other decrease in similar propotion as property tax.
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Re: The total market value of real estate in Altonville has [#permalink]

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New post 27 Jul 2010, 06:49
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noboru wrote:
Could anybody explain why A is wrong?
thanks


I think I know where you are coming from. I believe A is an example of shell game. Please note that in the passage it is stated that PERCENTAGE OF ASSESSED VALUE PAID AS PROPERTY TAX remained constant over the four years period. This does NOT mean that PERCENTAGE OF PROPERTY TAXES ON OVERALL REVENUE COLLECTED also remained constant. But it's easy to fall in this trap if we don't read carefully.

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

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New post 27 Jul 2010, 10:37
the catch is "The percentage of assessed value that was paid as property taxes"
C it is.
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The total market value of real estate in Altonville has [#permalink]

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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.


What's the reasoning behind C?
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New post 10 Nov 2011, 21:38
We know that the assessed value of that real estate-has also declined, but the percentage of assessed value that was paid as property taxes to the city did not change.
We can conclude that total amount of revenue collected from properties has declined.

Which option did you choose?
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Re: Real Estate in Altonville [#permalink]

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New post 10 Nov 2011, 23:56
blink005 wrote:
We know that the assessed value of that real estate-has also declined, but the percentage of assessed value that was paid as property taxes to the city did not change.
We can conclude that total amount of revenue collected from properties has declined.

Which option did you choose?



You are right.

Initially i choose B. Eliminated C altogether thinking it is comparing last year with that of the 4 year period.

But ultimately C wins.
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Re: Real Estate in Altonville [#permalink]

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New post 11 Nov 2011, 00:57
Can you please explain why C and not A?

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New post 11 Nov 2011, 19:59
why not A?

Can anyone justify plz?
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Re: Real Estate in Altonville [#permalink]

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New post 13 Nov 2011, 00:04
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I chose C. I met this question once. I can explain simply that value of real estate decrease, tax remain. Decrease value x remain tax = revenue from tax of real estate. Reduce
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The total market value of real estate in Altonville has steadily decli [#permalink]

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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

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

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

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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: The total market value of real estate in Altonville has steadily decli   [#permalink] 31 Aug 2012, 23:06

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