ASREB State Test A-1 Questions and Answers 100% Pass

ASREB State Test A-1 Questions and Answers 100% Pass Arizona property taxes are based on: Pro rata share Assessed value Front Footage Transfer value - Assessed Value The tax rate applied to owner occupied residential property is: 10% 12% 14% 16% - 10% Which of the following liens would have priority? Recorded mechanics liens 2100% Pass Guarantee Olivia West, All Rights Reserved © 2025 Unrecorded mechanics liens IRS liens Property taxes - Property taxes Property taxes become a lien the first day of January October November March - January If a property is not bid at a tax lien sale: The excess rebate goes to the property owner Anyone can later buy the tax lien from the Treasurer All other liens are terminated The property can only be sold next February - Anyone can later buy the tax lien from the Treasurer Rank the following liens in the order of their priority from highest to lowest: IRS lien, Property Taxes, Special Assessments - Property Taxes, Special Assessments, IRS lien When a broker misappropriates funds, this is called: 3100% Pass Guarantee Olivia West, All Rights Reserved © 2025 Conversion Commingling Conveyance Consideration - Conversion What type of property would have the highest tax rate? Vacant land Shopping center Parking lot Residential housing - Shopping center What is the priority of property tax liens?