NYC REAL ESTATE TEST FOR SALESPERSON-CH13
EXAM QUESTIONS AND VERIFIED ANSWERS|
GRADED A+ .
A(n) ________ legal proceeding means that an action is brought directly against the real property
and not against an individual and his personal property. - correct Answers -in rem
When a property owner believes an assessment is incorrect, the owner may file a grievance with
the local _______. - correct Answers -board of assessment review.
A property's _____ is a percentage of its market value. - correct Answers -assessment
A determination made by an assessor of the value of a parcel of property in an assessment unit is
called the ______ - correct Answers -assessed value
When a taxpayer is delinquent in paying property taxes, the taxing jurisdiction may initiate a(n)
______ against the property. - correct Answers -tax lien
Taxes levied against property when only the property benefits by the improvement, such as
construction of a sidewalk, are called a(n) ______ - correct Answers -special assessment
The property's tax rate is determined by:
a. the amount of the tax levy
b. NY law
c. the amount needed by the school district and special districts only
d. the amount voted on by citizen referendum - correct Answers -the amount of the tax levy
The tax rate is :
a. set by NY law and is uniform throughout the state
, b. set by the individual municipality to meet its budgetary needs
c. is not needed in municipalities where all classes of properties are assessed at a uniform
percentage
d. is the same amount as the tax levy - correct Answers -set by the individual municipality to
meet its budgetary needs
Qualified senior citizens may have the assessed value of their property reduced by as much as:
a. 10%
b. 25%
c. 50%
d. 100% - correct Answers -c. 50%
After protesting an assessment, commercial property owners dissatisfied with the determination
of the board of assessment review may file for a(n):
a. small claims assessment review hearing
b. tax certiorari proceeding in the NYS Supreme court
d. Article 78 Proceeding
d. in rem proceeding - correct Answers -tax certiorari proceeding in the NYS Supreme court
Should there be a tax lien against a property, the lien creates an:
a. appurtenance
b. encroachment
c. encumbrance
d. easement - correct Answers -encumbrance
Special assessment can be levied against a property only:
a. with the permission of the property owner
b. when the improvement benefits the property
c. when all the neighbors agree to the improvement
EXAM QUESTIONS AND VERIFIED ANSWERS|
GRADED A+ .
A(n) ________ legal proceeding means that an action is brought directly against the real property
and not against an individual and his personal property. - correct Answers -in rem
When a property owner believes an assessment is incorrect, the owner may file a grievance with
the local _______. - correct Answers -board of assessment review.
A property's _____ is a percentage of its market value. - correct Answers -assessment
A determination made by an assessor of the value of a parcel of property in an assessment unit is
called the ______ - correct Answers -assessed value
When a taxpayer is delinquent in paying property taxes, the taxing jurisdiction may initiate a(n)
______ against the property. - correct Answers -tax lien
Taxes levied against property when only the property benefits by the improvement, such as
construction of a sidewalk, are called a(n) ______ - correct Answers -special assessment
The property's tax rate is determined by:
a. the amount of the tax levy
b. NY law
c. the amount needed by the school district and special districts only
d. the amount voted on by citizen referendum - correct Answers -the amount of the tax levy
The tax rate is :
a. set by NY law and is uniform throughout the state
, b. set by the individual municipality to meet its budgetary needs
c. is not needed in municipalities where all classes of properties are assessed at a uniform
percentage
d. is the same amount as the tax levy - correct Answers -set by the individual municipality to
meet its budgetary needs
Qualified senior citizens may have the assessed value of their property reduced by as much as:
a. 10%
b. 25%
c. 50%
d. 100% - correct Answers -c. 50%
After protesting an assessment, commercial property owners dissatisfied with the determination
of the board of assessment review may file for a(n):
a. small claims assessment review hearing
b. tax certiorari proceeding in the NYS Supreme court
d. Article 78 Proceeding
d. in rem proceeding - correct Answers -tax certiorari proceeding in the NYS Supreme court
Should there be a tax lien against a property, the lien creates an:
a. appurtenance
b. encroachment
c. encumbrance
d. easement - correct Answers -encumbrance
Special assessment can be levied against a property only:
a. with the permission of the property owner
b. when the improvement benefits the property
c. when all the neighbors agree to the improvement
