7. Property Taxes, Insurance, and Impounds Quiz

What is the key purpose of a standard homeowner's insurance policy?

What is the primary role of the California Board of Equalization in real estate?

In real estate context, what are impounds related to?

When are HOA fees typically due?

What is a supplemental property tax in real estate?

What is typically used to calculate a standard form of homeowner's insurance?

In real estate transactions, what do 'pro-rations' refer to?

What determines the amount of HOA fees?

What do HOA fees primarily fund in a housing community?

What does the 80/20 rule indicate about homeowner's insurance coverage?

Under Proposition 13, by what percentage can the assessed value of a property increase annually?

If a homeowner's total annual property tax is $1,500, how much do they pay monthly if they choose to pay on an installment basis?

If a standard homeowner's insurance policy costs are 0.4% of the loan amount and the loan is $600,000, what is the annual insurance cost?

If a new construction increases a property's assessed value by $45,000 and the tax rate is 1.1%, what is the annual tax increase?

If a standard homeowner's insurance policy costs 0.3% of the loan amount and the loan is $500,000, what is the annual insurance cost?

What is the estimated annual property tax for a home purchased for $250,000 using the 1.25% rule of thumb?

For a home purchased for 150,000, if the annual property tax is 2,000, what is the effective property tax rate?

If the property tax rate is 1.5% and the annual property tax is $2,250, what is the assessed value of the property?

If Buyer Bill purchases a home for $150,000 with an 80% mortgage, how much is his down payment?

If a property's assessed value increases by $45,000 and the tax rate is 1.1%, what is the new annual tax increase?