ASREB Arizona specific A1 - A3 (green packet) Exam Questions and Answers 100% Pass

ASREB Arizona specific A1 - A3 (green
packet) Exam Questions and Answers
100% Pass


Arizona property taxes are based on: - ✔✔Assesed value


The tax applied to owner occupied residential property: - ✔✔10%


Property tax liens have: - ✔✔Priority


Property taxes become a lien: - ✔✔January 1


If a property is not bid at a tax lien sale: - ✔✔Anyone can later buy the tax lien from the

treasurer


Liens highest to lowest: - ✔✔1. Property taxes


2. Special assessments


3. IRS lien


When a broker misappropriates funds: - ✔✔Conversion


A shopping center would have the highest: - ✔✔Tax rate




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, A property tax lien is always: - ✔✔In first position


When are the first half of property taxes delinquent? - ✔✔November 1


The 2 classifications of water law in AZ: - ✔✔Ground and surface


Taxes are assessed on: - ✔✔Value of the property


The doctrine of water usage in AZ is known as: - ✔✔Prior appropriation


Water rights in AZ are: - ✔✔First in time, first in right


In AZ property taxes are payable: - ✔✔Twice a year


When a party Owns land on a non-navigable stream, they hold title to: - ✔✔Low water

mark


When the county assessor evaluates real estate for the purpose of taxation this is called:

- ✔✔Assessed value


AZ real estate taxes are levied: - ✔✔Once a year


Second half of real estate taxes are due: - ✔✔March 1


Once a homeowners association establishes the assessments, they are paid: -

✔✔Annually based on the homeowners associations budget


This lien is paid after a foreclosure: - ✔✔Property tax lien




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