Exam 11: Major Tax Structures: Property Taxes

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Swamp City contains the following properties: All property is currently taxed at 3% of assessed value. -What is the coefficient of dispersion for residential property?

The selling price of a house may not be exactly equal to the correct value of the house for tax purposes. Which of the following would not be a possible reason?

If a city is taxing property at the maximum rate allowed and then the assessed valuation of property in the city increases, which of the following can be expected to happen if the state does not allow an increase in the property tax levy?

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Swamp City contains the following properties: All property is currently taxed at 3% of assessed value. -Which parcel has the lowest effective tax rate?

In a traditional mass cyclical assessment system, which of the following occurs?

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on its 2000 census population of 15,000. Assessed value equals 25% of market value. -What is the effective tax rate in Hicksville?

Fractional assessment refers to:

"Welcome Stranger" assessment occurs when:

The Supreme Court case Nordlinger v. Hahn tests:

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Hicksville has a proposed budget of $7,000,000 for the fiscal year. The city has an assessed value of $100,000,000 and will receive state aid of $100 per capita based on its 2000 census population of 15,000. Assessed value equals 25% of market value. -What is the nominal tax rate in Hicksville?

Which of the following does not constitute a property tax relief measure?

Tax Increment Financing zones encourage economic development by:

Two cities are identical in all respects except City A has an assessment ratio of 100% and City B has an assessment ratio of 25%. Both cities need to raise $1,000,000 in property tax revenues. The statutory tax rates on property are:

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Swamp City contains the following properties: All property is currently taxed at 3% of assessed value. -What is the average effective tax rate on residential property?

City X reassesses a portion of the property within its borders every year, on a rotating basis. This method of updating the assessment roll is referred to as:

USE THE FOLLOWING DATA TO ANSWER THE QUESTION. Swamp City contains the following properties: All property is currently taxed at 3% of assessed value. -Fractional assessment refers to:

The Mundane County Council has the following information concerning the upcoming fiscal year's budget: To balance the budget, the Council will set the property tax rate at:

Which of the following is not a reason why assessed value for a parcel of real property might not equal estimated current market value?

In a traditional mass cyclical assessment system, which of the following occurs?

Circuit breakers may be generally preferable to exemptions as a means of property tax relief because: