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JAMB Economics 1984 Question 36

Question 36

Public Finance

Generally, property taxes

  1. A.are borne entirely by landlords
  2. B.cannot be shifted in the long run
  3. C.are borne by all (renters, owner occupiers and landlords)
  4. D.are borne only by renters
  5. E.are borne by a few industrialists.
Show the answer and explanation

Answer: C (are borne by all (renters, owner occupiers and landlords))

Explanation

Landlords pass part of a property tax on in higher rents, so the burden is shared by landlords, owner-occupiers and tenants.