Which of the following is considered a fixed expense?

Fixed expenses are costs that do not change with the level of goods or services produced by a business; they remain constant regardless of the occupancy or usage levels. Taxes, specifically property taxes, exemplify fixed expenses because they are typically based on assessed property values and are billed at regular intervals, such as annually or semi-annually. This consistency in payment does not fluctuate with property usage, making taxes a clear example of fixed expenses.

In contrast, property maintenance costs, utilities, and repairs can vary significantly based on multiple factors, such as usage, condition, and specific requirements that change over time. For example, maintenance costs can change depending on the frequency of services performed, and utilities can be influenced by the consumption levels, while repairs are typically variable and relate to the condition of property. Thus, these types of expenses are not classified as fixed, distinguishing them from property taxes.