Glenna and amanda just bought their first home. they will have a number of new expenses as a result of this purchase. which of these expenses is not associated with owning a home?
- real estate taxes
- interest on the loan
- personal property tax
- homeowner’s insurance

The correct answer is Personal property tax.

Explanation:

Many types of property are subject to property tax, although the most common is that the tax is based on the value of real estate (land). Municipal governments use property taxes to collect income probably more than any other tax authority. Municipalities receive their power to levy property taxes from state laws.

Property taxes are used to help finance the services of local governments. These include public schools, fire and police protection, roads, parks, streets, sewer systems and water treatment, waste collection, public libraries and many other local services.

Land and building taxes are one of the oldest forms of taxation in the United States. Prior to income and sales taxes, local governments used property taxes to finance most of their activities.

Property taxes remain an important source of income for local governments. Most local governments collect taxes on real and personal property, but there are fewer taxes on intangible assets, such as bank accounts and corporate bonds and stocks.

a. money supply  

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