Cryptocurrency Q&A
How do local government bodies raise revenue?
How do local government bodies raise revenue?
Daniele
Wed Jan 22 2025
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6
answers
1025
I am curious about the various ways that local governments generate income. I want to understand the methods they use to collect funds, possibly through taxes, fines, or other means, to finance their operations and public services.
6 answers
Bianca
Fri Jan 24 2025
Local governments derive a significant portion of their tax revenue from consumption taxes.
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CherryBlossomGrace
Fri Jan 24 2025
Sales, excise, and gross receipts taxes constitute the second most important source of local tax revenue.
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ZenMind
Fri Jan 24 2025
These taxes collectively account for 17 percent of the taxes collected by local governments.
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TaekwondoMaster
Fri Jan 24 2025
The majority of local areas impose some form of consumption tax.
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KimonoElegant
Thu Jan 23 2025
However, the extent to which local governments rely on these taxes varies widely.
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