Financial Literacy - Sales Tax/Property Tax

Money added to the cost of items and services. It is usually paid when an item is purchased.

• property tax

• income tax

• payroll tax

• sales tax

A portion of the value of items. This kind of tax is paid once or several times a year.

• Sales Tax

• Property Tax

• Payroll Tax

• Income Tax

The price of the dress Bonnie wants to buy is $85. The state has a $0.05 sales tax for every dollar of the price. What is the sales tax on the dress?

The price of the dress Bonnie wants to buy is $85. The state has a $0.05 sales tax for every dollar of the price. What is the total cost of the dress?

Amanda buys a necklace for $280. Which of the following taxes could she have paid on the purchase?

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

The property tax in one town was $6.95 per $1,000 value in the year 2012. The tax increased to $7.71 per $1,000 value in 2013. What effect did that have on the property tax for a house with a value of $100,000?

• Increase $76

• Decrease $96

• Increase $791

• Decrease $695

The price of the sweatshirt is $45. The total cost of the sweatshirt is $47.95. What type of tax is applied

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

Rolando earns $395. His pay after taxes is $356. What taxes apply?

• Payroll tax

• Income Tax

• Sales Tax

• Property Tax

Chase pays a yearly tax of $100 on his car. What tax applies?

• Property Tax

• Sales Tax

• Income Tax

• Payroll Tax

At the bookstore, the clearance shelf has a book about explorers. The book has a price tag of $4. The sales tax is $0.05 on every dollar. What is the total cost of the book?