2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
Utah Real Estate: Property Tax and Title
Insurance ch 23 Questions and Correct
Answers | Latest Update
Ad Valorem Tax
✓ -:- A tax levied according to the value of the property
Alta or Lender's Policy
✓ -:- The lender's title insurance policy which offers coverage in the
amount of the loan which includes a site visit to discover unrecorded
encumbrances
Assessed Value
✓ -:- A percentage of the appraised value, as determined by law, upon
which the tax rate will be levied to determine the property tax.
Attorney's Opinion
✓ -:- A lawyer's examination and evaluation of the history of title. It
includes a brief summary of all recorded instruments which affect the
1|P a g e | G r a d e A + | 2 0 2 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
title, including records of taxes, special assessme nts, judgements,
mortgages, and trust deeds.
Board of Equalization
✓ -:- The body of appeal if you think your property tax appraisal is too
high.
Chain of Title or Abstract of Title
✓ -:- A historical record of land ownership and liens or encumbrances
against the property. (history of ownership)
Cloud on Title
✓ -:- A term that refers to any kind of lien or encumbrance against the
title. (title is not clear)
Extended Coverage (Owner's policy) Title Insurance
✓ -:- Covers claims both on and off the recor d. It includes a site visit to
give protection against unrecorded liens and encumbrances, such as
mechanic's liens, as well as defect in the land itself, such as unrecorded
2|P a g e | G r a d e A + | 2 0 2 0 2 5
Utah Real Estate: Property Tax and Title
Insurance ch 23 Questions and Correct
Answers | Latest Update
Ad Valorem Tax
✓ -:- A tax levied according to the value of the property
Alta or Lender's Policy
✓ -:- The lender's title insurance policy which offers coverage in the
amount of the loan which includes a site visit to discover unrecorded
encumbrances
Assessed Value
✓ -:- A percentage of the appraised value, as determined by law, upon
which the tax rate will be levied to determine the property tax.
Attorney's Opinion
✓ -:- A lawyer's examination and evaluation of the history of title. It
includes a brief summary of all recorded instruments which affect the
1|P a g e | G r a d e A + | 2 0 2 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
title, including records of taxes, special assessme nts, judgements,
mortgages, and trust deeds.
Board of Equalization
✓ -:- The body of appeal if you think your property tax appraisal is too
high.
Chain of Title or Abstract of Title
✓ -:- A historical record of land ownership and liens or encumbrances
against the property. (history of ownership)
Cloud on Title
✓ -:- A term that refers to any kind of lien or encumbrance against the
title. (title is not clear)
Extended Coverage (Owner's policy) Title Insurance
✓ -:- Covers claims both on and off the recor d. It includes a site visit to
give protection against unrecorded liens and encumbrances, such as
mechanic's liens, as well as defect in the land itself, such as unrecorded
2|P a g e | G r a d e A + | 2 0 2 0 2 5
