Chapter 3 Review Questions Flashcards
1
Q
The tax levy against real property to provide the funds to pay all or part of the cost of an improvement to the property in which of the following. A. Mechanic lien B. Special assessment C. General lien D. Judgement lien
A
B. Special assessment
2
Q
Real property taxation in NC:
A. Requires listing the property by December 30
B. Makes 1 sept the due date of the tax
C. Requires penalties for paying after sept 1
D. None of the above.
A
B. Makes 1 sept the due date of the tax
3
Q
The tax rate is calculated on every $100 of the A. Sales price B. Appraised value C. Listing price D. Assessed value
A
D. Assessed value
4
Q
According to the machinery act in NC all real property must be reappraised for tax purposes every: A. Every year B. Every 2 years C. Every 4 years D. Every 8 years
A
D. Every 8 years
