What might be the impact on consumers if a rise in property tax rates on businesses is passed by a local government?

Consumers will have to pay more price for the purchase of same product or service.

Explanation:

A company makes money by selling the products they produce and get Revenue on the sales. Then they take out their expenses from those revenues, pay their taxes and finally get the profit out of the products they sold. If the amount of tax increases, then the profits they earn decreases because they have to pay extra tax now. So what companies do, they don't cut their profits, rather they increase the price of their product and earn more revenues on the same sale. Then they pay their extra taxes and get their same profits again. So this price increase has to be faced by the consumers. In short, if the amount of property taxes on the businesses increases, consumers will have to pay more for the purchase of same product or service.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.