Chapter 19 Real Estate Taxation

Question 1

True or false there are federal taxes on real estate property

Answer 1

False there are no federal taxes on real property

Question 2

Who taxes real estate

Answer 2

County and local levels of government

Question 3

Ad valorem taxes are based on what Anne paid how

Answer 3

Ad valorem taxes are based on assessed value and paid annually

Question 4

Who is exempt from property taxes
a government properties 
b nonprofit organization 
C churches 
E all of the above

Answer 4

All of the above are exempt from property taxes

Question 5

Tax deed- is used for conveying the title for non payment of taxes. The owner of the property can buy back the property through two methods pick two

A redemption period
B tax sale
C tax foreclosure
Dststuatory right of redemption

Answer 5

A and d
Redemption. During which default a text pair has the right to buy back the property and reclaim the title also known as equitable right of redemption statutory redemption the text Pyramus pay the amount by the winning bidder of the tax sale plus any charges that have accumulated in interest