Chapter 19 - Real Estate Taxation

Question 1

The ad valorem tax base of a municipal jurisdiction is equal to

Answer 1

the total of all assessed values of properties minus exemptions.

Question 2

A homeowner’s total tax bill is derived by

Answer 2

multiplying each district’s tax rate times the taxable value of the property

Question 3

A special tax district might be created to

Answer 3

create a two-mile extension of county sewer facilities

Question 4

Which of the following is true with respect to real property taxation by the federal government?

Answer 4

There are no federal ad valorem taxes on real property.