©THEBRIGHT EXAM SOLUTIONS
11/05/2024 12:06 PM
California Real Estate Principles Ch. 11:
Real Estate Taxation Exam Questions With
Correct Answers
Property Taxes are ad valorem taxes, which means that they are: - answer✔Charge in relation to value
of property taxed ( Assessed value x tax rate = actual tax.)
The Smiths' sale of their residence is a - answer✔Reassessment event
The property tax year runs from: - answer✔July 1- June 30.
A lien in the amount of tax due is placed on all assessed real property on: - answer✔January 1st.
When all past-due property taxes are paid, the county tax collector issues: - answer✔Certificate of
redemption.
The buyer of property at an auction by the tax collector receives a: - answer✔Tax deed.
A benefit assessment also may be called: - answer✔A local assessment, levy based on other than
assessed value, special benefit assessment, or special assessment.
The use of property assessments was expanded by: - answer✔Mello-Roos Community Facilities Act.
A deed many show on its face that which of the following taxes was paid? - answer✔Documentary
Transfer Tax.
Sales and use taxes are the responsibility of: - answer✔State Board of Equalization
In California there is a state sales tax on: - answer✔Fixtures sold as part of a business.
The State of California collects: - answer✔state income tax
A gift is made: - answer✔Through voluntary transfer by an individual of any type of property for less
than full consideration.
(When individual voluntarily transfers property for anything less than its fair market value.)
Gift tax is payable when the total value of gifts to an individual in on year is more than: -
answer✔$14,000.
11/05/2024 12:06 PM
California Real Estate Principles Ch. 11:
Real Estate Taxation Exam Questions With
Correct Answers
Property Taxes are ad valorem taxes, which means that they are: - answer✔Charge in relation to value
of property taxed ( Assessed value x tax rate = actual tax.)
The Smiths' sale of their residence is a - answer✔Reassessment event
The property tax year runs from: - answer✔July 1- June 30.
A lien in the amount of tax due is placed on all assessed real property on: - answer✔January 1st.
When all past-due property taxes are paid, the county tax collector issues: - answer✔Certificate of
redemption.
The buyer of property at an auction by the tax collector receives a: - answer✔Tax deed.
A benefit assessment also may be called: - answer✔A local assessment, levy based on other than
assessed value, special benefit assessment, or special assessment.
The use of property assessments was expanded by: - answer✔Mello-Roos Community Facilities Act.
A deed many show on its face that which of the following taxes was paid? - answer✔Documentary
Transfer Tax.
Sales and use taxes are the responsibility of: - answer✔State Board of Equalization
In California there is a state sales tax on: - answer✔Fixtures sold as part of a business.
The State of California collects: - answer✔state income tax
A gift is made: - answer✔Through voluntary transfer by an individual of any type of property for less
than full consideration.
(When individual voluntarily transfers property for anything less than its fair market value.)
Gift tax is payable when the total value of gifts to an individual in on year is more than: -
answer✔$14,000.
