Suppose the city of Strelsau has a 10% property tax on rental properties. Rudolph makes $100,000 a year and pays $23,000 per year in rent. Fritz makes $40,000 per year and spends $11,600 in rent. Both Rudolph and Fritz rent from Michael. a.) How is Strelsau's property tax best described?b.) Who most likely actually pays the tax on the rental property? a. How is Strelsau's property tax best described?IncidentalRegressiveProgressiveProportionalb. Who most likely actually pays the tax on rental property?It is split evenly between the renters and the landlord.The landlord, Micheal, pays it.The renters and landlord negotiate who will pay it.The renters, Rudolph and Fritz, pay it.

uppose the city of Strelsau has a 10% property tax on rental properties. Rudolph makes $100,000 a year and pays $23,000 per year in rent. Fritz makes $40,000 per year and spends $11,600 in rent. Both Rudolph and Fritz rent from Michael. a.) How is Strelsau's property tax best described? b.) Who most likely actually pays the tax on the rental property?

uppose the city of Strelsau has a 10% property tax on rental properties. Rudolph makes $100,000 a year and pays $23,000 per year in rent. Fritz makes $40,000 per year and spends $11,600 in rent. Both Rudolph and Fritz rent from Michael. a.) How is Strelsau's property tax best described? b.) Who most likely actually pays the tax on the rental property?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section16.4: Taxation

Problem 5R

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