REAL ESTATE ( AZ SPECIFIC ) EXAM WITH CORRECT ANSWERS 2024 | 2025 UPDATE

REAL ESTATE ( AZ SPECIFIC ) EXAM WITH CORRECT ANSWERS 2024 | 2025 UPDATE Arizona property taxes are based on: - Answer -Assessed value The tax rate applied to owner occupied residential property is: - Answer -10 % What lien has priority first: - Answer -Property taxes Property taxes become a lien the first day of: - Answer -January If a property is not bid at a tax foreclosure sale: - Answer -Anyone can later buy the tax lien from the Treasurer Rank the following in order: IRS lien, Property Taxes, Special Assessments - Answer -Property Taxes, Special Assessments, IRS Liens When a broker misappropriates funds, this is called: - Answer -Conversion What type of property would have the highest tax rate: - Answer -Shopping center What is the priority of property tax liens: - Answer -Always in first position When are the first half property taxes delinquent: - Answer -November 1 The two designations or classifications of water law in Arizona are: - Answer -Ground the surface Taxes are assessed on: - Answer -Value of the property The doctrine of water usage in Arizona is known as: - Answer -Prior appropration Water rights in Arizona are: - Answer -First in time, first in right In Arizona, property taxes are payable: - Answer -Twice a year When a party owns land on a non-navigable stream, it is said they hold title to: - Answer -Lower water mark When the county assessor evaluates real estate for the purpose of taxation, this is called: - Answer - Assessed value Real estate taxes are levied in Arizona: - Answer -Once a year Second half real estate taxes are due: - Answer -march 1st