Texas Property Package Deal With Updated Study Quiz Rated A+

A $50,000 mortgage has a $5,000 cash equivalency adjustment because of below market financing. The down payment was $3,000. What is the cash equivalent sales price? a. $50,000 b. $55,000 c. $48,000 d. $58,000 - Answer-c. $48,000 A ceiling fan installed in a home is... a. Personal property b....

A delinquent tax incurs a penalty of... a. 20% for the first calendar month it is delinquent, plus 1% for each additional month until it is paid b. 6% for the first calendar month it is delinquent, plus 1% for each additional month or portion of a month it remains unpaid c. 5% for the first cale...

11.31 pollution control exemption - person is entitled to exemption from taxation in whole or part for a facility or device that is used for the control of air, land or water pollution Ineligible for this exemption: property used to manufacture the devices, property used for residential or recrea...

(Income Producing) Personal Property - Property not permanently attached to real estate and other assets such as inventories, furniture, and machinery A taxing unit may elect to allow for split payments, with equal payments due before... - December 1 and July 1 Ad Valorem - Taxed according to va...

(Income Producing) Personal Property - Property not permanently attached to real estate and other assets such as inventories, furniture, and machinery 25.25(c) corrects what kind of error - clerical error 25.25(d) corrects what kind of error - egregious error (1/3rd too high) A motion filed purs...

________________ can not engage in Ex Parte Communications. - A member of the board of directors of an appraisal district 4 types of units may levy property taxes: - 1. counties 2. cities and towns 3. school districts 4. special districts A notice of protest must be filed by taxpayers before _...

25.25(c) corrects what kind of error - clerical error 25.25(d) corrects what kind of error - egregious error (1/3rd too high) A motion filed pursuant to the Texas Property Tax Code, section 25.25(d) requires the taxes be paid before the delinquency date (jan 31) in the amount of... - the tax in f...

Net Operating Income - NOI - ️️Net operating income equals all revenue from the property minus all reasonably necessary operating expenses. Aside from rent, a property might also generate revenue from parking and service fees, like vending and laundry machines. Effective gross income (EGI) d...

How would you argue investment value in ARB for a recently sold hotel? (investment value typically > market value) - ️️Buyer is willing to pay a premium because they believe that the value will go up in future years, however market value is as of January 1 of the current tax year. So the v...

Market Value - ️️The price at which a property would transfer for cash or its equivalent under prevailing market conditions if: -exposed for sale in the open market with a reasonable time for the seller to find a purchaser -both the seller and purchaser know of all the uses and purposes to w...