Question 1

 

Multiple Answer

(1.0000 points)

 

Question:

What is the Millage rate for a community that has a $34,000,000,000 of real estate, $6,000,000,000 of exempt properties, a budget of $110,000,000 and $10,000,000 in sales tax revenue?

 

 

 

3.57 mils
.357 mills
.00357 mills
35.7 mills
none of the above

 

 

Question 2

 

Multiple Answer

(1.0000 points)

 

Question:

Which of the following are usually exempt from property taxation?
(Check all that apply)

 

 

 

Courthouses
Public Schools
Churches
Firehouses
Police buildings

 

 

Question 3

 

Multiple Answer

(1.0000 points)

 

Question:

Which of the following are governmental advantages for using property taxes? (Check all that apply)

 

 

 

Property taxes are able to raise large amounts of revenue.
Property is an asset that can easily be found--people cannot hide their real property to avoid taxation.
Revenue raised tends to keep up with inflation since the value of properties usually increase accordingly.
Property taxes tend to reduce property values.
Property taxation discourages new construction.

 

 

Question 4

 

Multiple Answer

(1.0000 points)

 

Question:

Taxing a condominium unit more than a very similar one with identical floor plans on the same floor is likely to be a violation of: (Check all that apply)

 

 

 

Vertical equity
Horizontal equity
Ad Valorem
Economic efficiency
Equity of redemption

 

 

Question 5

 

Multiple Answer

(1.0000 points)

 

Question:

To assess the relative property tax of one property verses another, a prospective purchases would want a(n): (Check all that apply)

 

 

 

Tax certificate
Tax capitalization
Tax burden analysis
Special assessment
Assessed valuation