Podcast
Questions and Answers
What is another name for property taxes?
What is another name for property taxes?
- Sales tax
- Ad valorem tax (correct)
- Excise tax
- Income tax
Who typically has the responsibility to levy state property taxes?
Who typically has the responsibility to levy state property taxes?
- Local jurisdictions (correct)
- Individual property owners
- Federal government
- Tax districts
What are tax liens an alternative to, in the context of taxation entities?
What are tax liens an alternative to, in the context of taxation entities?
- Excise tax
- Sales tax
- Property taxes (correct)
- Income tax
What does the tax base refer to in the context of property taxes?
What does the tax base refer to in the context of property taxes?
What is applied to the taxable value of each property to determine its tax levy?
What is applied to the taxable value of each property to determine its tax levy?
How are equalization factors used in the context of property taxes?
How are equalization factors used in the context of property taxes?
Who is eligible for a Homestead Exemption?
Who is eligible for a Homestead Exemption?
Which properties are immune from Ad Valorem tax?
Which properties are immune from Ad Valorem tax?
How is the tax rate usually expressed in mills?
How is the tax rate usually expressed in mills?
What determines the taxable value for individuals' tax bills?
What determines the taxable value for individuals' tax bills?
How are special assessments calculated?
How are special assessments calculated?
What occurs after a defaulted taxpayer fails to redeem their property?
What occurs after a defaulted taxpayer fails to redeem their property?
What type of tax is property tax, based on the text?
What type of tax is property tax, based on the text?
Who typically has the authority to impose a tax lien rather than an annual property tax?
Who typically has the authority to impose a tax lien rather than an annual property tax?
What do equalization factors aim to increase in tax levies, as per the text?
What do equalization factors aim to increase in tax levies, as per the text?
In the context of property taxes, what is the total of all assessed values in a jurisdiction excluding exemptions called?
In the context of property taxes, what is the total of all assessed values in a jurisdiction excluding exemptions called?
What entity is typically responsible for delegating the responsibility to levy state property taxes?
What entity is typically responsible for delegating the responsibility to levy state property taxes?
What is the valuation of properties for tax purposes completed by assessors referred to as in the text?
What is the valuation of properties for tax purposes completed by assessors referred to as in the text?
What is the purpose of a Homestead Exemption?
What is the purpose of a Homestead Exemption?
How are properties owned by non-profit organizations treated in terms of taxes?
How are properties owned by non-profit organizations treated in terms of taxes?
What is the first step in deriving the tax rate for a taxing entity?
What is the first step in deriving the tax rate for a taxing entity?
How are special assessments calculated for benefiting properties?
How are special assessments calculated for benefiting properties?
What is the process involved in enforcing tax liens?
What is the process involved in enforcing tax liens?
What is the outcome when a defaulted taxpayer fails to redeem their property after a tax sale?
What is the outcome when a defaulted taxpayer fails to redeem their property after a tax sale?
What is the purpose of a tax lien in property taxation?
What is the purpose of a tax lien in property taxation?
How are assessment amounts for special assessments calculated?
How are assessment amounts for special assessments calculated?
What happens if a defaulted taxpayer fails to redeem their property after a tax sale?
What happens if a defaulted taxpayer fails to redeem their property after a tax sale?
How is the taxable value for individuals' unique tax bills determined?
How is the taxable value for individuals' unique tax bills determined?
In property taxation, what is the purpose of conveying title via tax deed?
In property taxation, what is the purpose of conveying title via tax deed?
What is the primary reason for granting a Homestead Exemption?
What is the primary reason for granting a Homestead Exemption?
What is the term used for property taxes that are imposed annually on the taxable value of a property?
What is the term used for property taxes that are imposed annually on the taxable value of a property?
Who has the authority to impose a tax lien rather than an annual property tax in the context of taxation entities?
Who has the authority to impose a tax lien rather than an annual property tax in the context of taxation entities?
What is the term used for the total of all assessed values in a jurisdiction, excluding exemptions, in the context of property taxes?
What is the term used for the total of all assessed values in a jurisdiction, excluding exemptions, in the context of property taxes?
What are special tax districts established for, according to the text?
What are special tax districts established for, according to the text?
What purpose do equalization factors serve in the calculation of property taxes?
What purpose do equalization factors serve in the calculation of property taxes?
How is the taxable value of each property determined for property tax calculations?
How is the taxable value of each property determined for property tax calculations?
