Real Estate taxes are of most importance to
local government.
The county property appraiser determines the
assessed value.
Greenbelt laws
limit the assessed value on agricultural land in or near urban areas.
Property owners that pay their real estate tax bill in November are entitled to a discount of.
4%
Which statement would be correct regarding a homeowner who sold a principle residence and itemized deductions on his or her federal income tax return?
Up to $250,000 may be excluded from taxation if the taxpayer had occupied the residence for at least 2 of the past 5 years.
To qualify for a Homestead tax exemption an individual must
own and use the home as a primary residence.
In Florida, the owner of Homestead property located outside of the city limits would be required to pay property taxes levied
by the county and school board.
Who can appraise property for purpose of taxation
the county property appraiser
How is 10 mills expressed as a decimal
0.01
Special assestments are used to pay for
sidewalks, sewer and other public improvements that benefits the property owner.
If a property owner fails to pay property taxes, the resulting lien is
held by the county until the certificate is sold.
According to Florida's Save Our Homes Act, the assessed value of Homestead property cannot be increased in any one year by more than
The lesser of 3% or the CPI.
Homeowners that file itemized tax returns are allowed deductions for which of the following items?
real estate taxes and mortgage interest.
Which statement is correct with respect of homeowners insurance coverage?
Homeowners with multiple policies will not receive the full amount of their loss from both companies.
The interest payable on a tax certificate is
based on the lowest bid received.
15. Which statement best describes the interest that is payable on tax certificates?
( erest rate that the investor buying the tax certificate wishes to receive in exchange for paying the gross taxes, interest and associated sales costs.
The auction opens
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Real Estate Tax Exemptions and Limitations, Exempt Property and Immune Property
25. Individuals who own their primary residence, are permitted certain income tax deductions. Which of the following is a permitted tax deduction?
Points paid to purchase or refinance
22. A home is assessed for $185,000. The tax rate is 21.5 mills including a city millage of 7 mills, county mills totaling 6.5 mills and school millage of 8 mills. The homeowner is eligible for the standard homestead tax exemption. What is the amount of p
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