The one of the major difference between Income Tax and property tax is Income tax is progressive, while property tax is regressive. Therefore, Option (B) is correct.
What is a Regressive Tax?
Regressive Tax refers to the tax burden on the people with the low income as compared to the higher income earners. It is different from the progressive tax.
Progressive Tax refers to the higher tax liability on the higher income earners as compared to the low income earners. Their is high tax burden on the High income people.
One significant distinction between income tax and property tax is that the former is progressive while the latter is regressive. Thus option (B) is correct.
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