Sales tax
Individual income tax
Property tax
This is calculated as a percentage of a workers earnings. As a worker makes more money, he, or she will be taxed a higher percentage of income.
Calculated value of property and multiplying by the rate determined by the government
It is calculated as a percentage of the price of the item purchased
Sales tax is a tax imposed by state or local governments on the sale of goods and services. The rate varies depending on the location and type of goods or services purchased. It is typically added to the final price of the item at the point of sale.
Individual income tax is a tax imposed by the federal government and state governments on the income earned by individuals. The tax rate is determined by income brackets, with higher earners being taxed at a higher rate.
Property tax is a tax imposed by local governments on the value of real estate and other property owned by individuals or businesses. The tax rate is based on the assessed value of the property, which is determined by local assessors. Property tax is typically used to fund local services such as schools, roads, and public safety.
Overall, these taxes play a crucial role in funding government operations and public services. They help to ensure that individuals and businesses contribute financially to the functioning of society and the economy.