Question
7. Property A and property B are two single-family residential properties in a municipality that has just introduced market value assessment. Before market-value assessment, A
7. Property A and property B are two single-family residential properties in a municipality that has just introduced market value assessment. Before market-value assessment, A and B were paying the same annual property tax but A had a lower assessed-to-true-market-value ratio than B. This means that after the introduction of market value assessment
a. they will continue to pay the same tax
b. B will pay a higher tax than A
c. you can't tell from this information how much their relative taxes will be
d. A will pay a higher tax than B
e. both properties taxes will have to go up
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