PMTC 3 REVIEW

Question 1

It is the responsibility of the __________ to set up the tax office.

Answer 1

tax collector

Question 2

The tax collector is charged with the responsibilities as spelled out in ________ .

Answer 2

Title 54

Question 3

The tax collector is an employee of the _________, but is a __________ officer and personally answers to the laws governing his/her office.

Answer 3

municipality

statutory

Question 4

In order to determine the responsibility of any cash shortages, the tax collector should ensure each cashier has their own ____________.

Answer 4

locked cash drawer

Question 5

In a taxing district having a public building, an office for the tax collector shall be __________.

Answer 5

set aside/apart

Question 6

When preparing the operating budget for the tax office, sone areas to be considered for office operations are:

Answer 6

tax sale costs, municipal lien foreclosure fees, IT, conferences, dues, equipment, office supplies, printing, postage, staff expenses, subscriptions

Question 7

The four main duties of the tax collector are:

Answer 7

billing, reporting, enforcement, and collection

Question 8

The tax collector is appointed by the __________ for a _____ year term of office.

Answer 8

governing body, 4

Question 9

If a tax collector shall fail to give bond as required by law, his/her office shall be ____________.

Answer 9

deemed vacant

Question 10

List four basic records found in the tax office:

Answer 10

foreclosure list, cash receipts book, tax sale list, tax duplicate

Question 11

The maximum fee a municipality may charge for a NSF check is ______.

Answer 11

$20

Question 12

All municipal funds must be deposited within _____ hours of receipt.

Answer 12

48

Question 13

The lock box statute allows a governing body, by __________, to designate a bank or trust company to receive ____________________.

Answer 13

resolution

current tax and water/sewer payments

Question 14

Prior to the award of a contract for the lock box service, it must be approved by the ________.

Answer 14

DLGS

Question 15

A municipality which has contracted with a bank or trust company for this service must notify all taxpayers at least _______________ that such a service has been contracted.

Answer 15

30 days prior to the next due date

Question 16

Only __________ payments may be made to the collector or designated bank. All delinquent payments must be made to the __________.

Answer 16

current

tax collector

Question 17

A local unit may establish a petty cash fund upon written application and after approval by the ______.

Answer 17

DLGS

Question 18

Each item purchased through a petty cash fund is to be charged to _______________.

Answer 18

proper budget appropriation

Question 19

A petty cash fund must be returned to the __________ for __________ prior to the end of the fiscal year.

Answer 19

CFO/Treasurer

redeposit

Question 20

A change fund is for making change and never to be __________.

Answer 20

lent or spent

Question 21

To establish a change fund the governing body must _______________.

Answer 21

pass a resolution

Question 22

The discount for prepayment of taxes or assessments shall not exceed ___ % per annum.

Answer 22

6%

Question 23

Delinquency means the sum of:

Answer 23

all taxes and municipal charges on any given parcel of property covering any number of quarters or years

Question 24

A municipality may fix, by __________, an interest rate for delinquent municipal charges.

Answer 24

resolution

Question 25

The rate so fixed by a municipality for delinquent charges shall not exceed ____________________.

Answer 25

8% on the first $1500 and 18% over $1500

Question 26

The governing body may fix a penalty to be charged to a taxpayer with a delinquency in excess of ________ who fails to pay that delinquency prior to the end of the __________.

Answer 26

$10,000

fiscal year

Question 27

This penalty (YEP) shall not exceed ___ %.

Answer 27

6%

Question 28

In order for a third party certificate holder to share the YEP, they must pay not less than ________ of the delinquency prior to the end of the __________.

Answer 28

$10,000

fiscal year

Question 29

A records retention schedule of governmental records is promulgated by the _________________________.

Answer 29

Division of Revenue and Enterprise Services - Records Management

Question 30

These schedules establish the __________ period of time that the records must be maintained.

Answer 30

minimum

Question 31

After determining records which may be destroyed, the tax collector must file a “request and authorization or records disposal” form with the ____________________.

Answer 31

Division of Revenue and Enterprise Services

Question 32

This form must also be approved and signed by the __________ and __________.

Answer 32

clerk

auditor

Question 33

These records may be __________ only after the approval has been received from the ____________________.

Answer 33

destroyed

Division of Revenue and Enterprise Services

Question 34

A resolution is a ______ of the legislative body.

Answer 34

law

Question 35

List examples of resolutions needed for the tax collector to perform his/her duties:

Answer 35

grace period, interest rate, YEP, prepayment discount, accelerated tax sale, cancel small balances, uncollectible taxes, duplicate tax sale certificates

Question 36

The tax assessor shall determine his/her taxable valuations of real property as of __________ each year.

Answer 36

October 1