Types of Taxes

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What is Property Tax?

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The money you pay for the value of the property you own and what is on the land. It is used for police and fire departments, public libraries, and local school districts.

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What is an example of Property Tax?

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A house.

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What is Sales Tax?

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The money you pay on items at the store. The percent varies on what state you buy the item in. It is used to upgrade roads that are bad and public education.

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What is an example of Sales Tax?

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A pair of pants instead of costing $10.00 now cost $10.70.

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What is Payroll Tax?

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Taxes withheld from your paycheck that goes to the federal government.

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What is an example of Payroll Tax?

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Your paycheck is supposed to be $6 and instead you get $5.50.

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What are Income Taxes?

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The taxes based on how much money you earn, including salary and other money you earn.