Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
11 Cards in this Set
- Front
- Back
|
__________ is the concept that refers to properties that have equal market values and those properties are assessed at the same percentage of their market value.
|
Horizontal equity
|
|
|
________ is the concept that refers to properties that have different market values and those properties are assessed at the same percentage of their market value.
|
Vertical equity
|
|
|
Which of the following jurisdictions typically levy real property taxes?
A.Social service areas. B.School districts C. Police districts D. All of the above |
B. Cities,counties,school districts, and other special taxing jurisdictions, such as urban service districts and water management districts, levy real property taxes.
|
|
|
All of the following were taxes in common use in the British colonies of North America except:
A. the poll tax B. the import tax C. the property tax D. the consumption tax |
D.
|
|
|
Taxes on property, in addition to ad valorem taxes, often used to finance streets, gutters, sewers, and sidewalks are termed:
A. infrastructure assessments B. Utility assessments C. Service assessments D. Special assessments |
D
|
|
|
The right of the owner to pay unpaid taxes plus interest and penalties prior to the public sale of the property and therefore reclaim full title to the property is known as:
A.statutory redemption B. assignment C. equity of redemption D. commencement |
C
|
|
|
A disadvantage of the property tax is:
A. that it can serve to inhibit new construction. B. that is can induce premature development C. All of the above D. None of the above |
C.
|
|
|
When all owners of home having different values pay property taxes at the same percentage rate of their home value, this is example of:
A. Vertical equity B. horizontal equity C. vertical efficiency D. horizontal efficiency |
A
|
|
|
While most countries tax both land and the improvements, some countires such as Denmark and Argentina tax only the value of the land.
T OR F |
T
|
|
|
One criticism of property taxes is that they are not necessarily related to an owner's ability to pay
T OR F |
T
|
|
|
Property taxes are generally viewed as progressive, beacause lower income households may pay lower property taxes than higher income households relative to their respective income
T OR F |
F
|
