Any tax imposed for a specific purpose is known as what?

A tax imposed for a specific purpose is classified as a special sales tax. This type of tax is typically designated to fund particular projects or services, such as education, transportation, or infrastructure improvements. Unlike general taxes, which go into a broad budget and can be utilized for various governmental functions, a special sales tax is earmarked for specific initiatives, ensuring that the revenue generated is used for the intended purpose.

The other options represent different types of taxes or methodologies in assessing property value rather than taxes designated for specific uses. General taxes are not confined to defined objectives, ad valorem taxes are based on the value of property, and the income approach refers to property valuation methods rather than taxation. Understanding this distinction can aid in recognizing how different tax structures operate within public finance and budgeting.