The product of assessment level and the tax rate equals which of the following?

The relationship between the assessment level and the tax rate can be understood through the concept of how taxes are calculated in property taxation systems. The assessment level represents the proportion of a property's value that is used for taxation relative to its market value. The tax rate is the amount of tax levied per unit of assessed value, typically expressed as a percentage.

When multiplying the assessment level by the tax rate, the resulting product represents the effective tax rate, which is the effective amount of tax that is applied to a property considering both the assessed value and the stated tax rate. This effective tax rate provides a more accurate reflection of the burden a taxpayer will face compared to simply looking at the nominal tax rate without considering how assessments adjust property values for taxation.

Other options do not accurately depict this relationship. Gross tax revenue relates to the total revenue generated from taxes and factors in all properties within a jurisdiction. Net assessed value represents the assessed value of properties after applying exemptions and adjustments. Adjusted tax base typically refers to the total value of the properties subject to taxation after accounting for various adjustments but does not directly correspond to the product of the assessment level and the tax rate. Thus, the effective tax rate stands out as the correct concept related to the multiplication of the assessment level and