Unit 18 Practice Exam Copy

The term “just value” is legally synonymous with which value?

A notice is sent to property owners from the property tax appraiser in August each year, with information about the tax liability and the governmental entity levying the tax. The notice is called

The first step a property owner should take to protest the tax appraisal is 

The county finds its millage rate by dividing the dollars needed from ad valorem taxes by the

With respect to ad valorem taxes, churches are

A homestead is assessed at $83,000. What is the homestead exemption for school board taxes?

A homestead is assessed for $48,000. What is the taxable value if a blind widow owns the house?

A special assessment is

A street is paved at a cost of $40 per running foot. An owner has 100 front feet, and the city has agreed to pay 25% of the cost. What will the owner pay?

Ad valorem taxes become delinquent on

The first date that a tax certificate buyer can file for a tax deed is on April 1st

For income tax purposes, the sale price of property minus any commissions paid is the        

A homeowner sells her personal residence that she has owned for four years. Her capital gain from the sale was $187,500, and her ordinary income tax rate is 25%. What will she pay in taxes for this sale?