Property taxes however form only how much percentage of the money that a Municipal Corporation earns.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

80-90 percent

25-30 percent

70-80 percent

None of the above

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Property taxes however form only how much percentage of the money that a Municipal Corporation earns 25-30 percent.
The Municipal corporation needs to raise funds to carry out the functions that the people expect. It does so by employing various methods of revenue generation. Most importantly, it collects taxes from the city's residents to provide them with the services. Property tax is one of these taxes levied on the people who own a house or a shop in the city. The size of the property determines the amount of the tax to be paid. However, this tax only accounts for about 25 to 30 per cent of the total income of the municipal corporation.

Watch 3-min video & get full concept clarity