Exam 13: Introduction to Taxation

The Subdivision Map Act is enforced by

If a person purchases the right to occupy a unit for a certain designated period each year, this is called:

The second installment of real property taxes is delinquent if not paid by:

Under certain conditions, a single homeowner may exempt up to how much in gains from the sale of a home?

A seller's current real estate tax is $1,175 per year including the homeowner's exemption. The condo is sold to a buyer for $197,500. Assuming no local assessments are added to the tax bill, what will be the buyer's real property tax bill including the homeowner's exemption?

In a 1031 real estate exchange, a tax liability arises if the person exchanging receives:

Ad valorem, is a Latin phrase that means:

A frequently used special assessment law is:

Businesses, including real estate offices are directly affected by which state anti discrimination law?

What would be an example of a subdivision of air space?

Since the passage of Proposition 13, the county tax assessor is required to value property for real property taxes on the basis of the:

Which can be depreciated for income tax purposes?

For a homeowner, which of the following is tax deductible?

Private property is deeded to the state for delinquent property taxes after:

Which law prohibits lenders from "redlining"?

A law used to finance public services in newly developed areas that can lead to high assessments for the affected owners is called:

The proposition that allows certain homeowners to transfer their property tax base to another home in the same county is:

Federal income taxes are referred to as a:

When a special assessment is made on a piece of property under the Street Improvement Act of 1911: