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REE 3043 Chapter 4 Test questions with Simplified answers
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REE 3043 Chapter 4 Test questions with Simplified answers
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REE 3043 Chapter 4 Test questions withSimplified answers
Tax rates are usually stated in mills. Assuming the tax rate in percentage terms
is 6.5%, convert this rate to mills. - ✔✔65 Mills.
Special assessments are levied to pay for specific improvements that benefit a
particular group of properties. All of the following characteristics of special
assessments are true EXCEPT:
-they are considered ad valorem taxes.
-they are applied as pro rata charges.
-they are levied directly on the properties benefited.
-they are commonly used to finance streets, storm water systems, sidewalks,
and other area improvements. - ✔✔-they are considered ad valorem taxes.
The right of government to acquire private property, without the owner's
consent, for public use in exchange for just compensation is referred to as -
✔✔Eminent Domain
Zoning ordinances that tend to exclude lower income groups by large lot size, or
that do not adequately provide low- and moderate-income housing are referred
to as - ✔✔Exclusionary Uses
The most recent approach to zoning, form-based zoning, creates a map
by segregation of - ✔✔Building Shapes
, A developer plans to place a subdivision slightly outside the city limits in an area
that is rapidly developing. However, the city claims to have the right to control
urban development even in the proposed area. The right the city is attempting to
invoke is referred to as - ✔✔extraterritorial jurisdiction.
While most real property in the United States is privately owned, government
regulations limit private property use and therefore play an important role in
the determination of property value. Proponents of government intervention
argue that regulation is needed to address the unintended and unaccounted for
consequences of one land user upon others, more commonly referred to as -
✔✔externalities
It was not until the late 1960's that land use controls moved to the forefront of
public interest, as the belief that the environment was an endless and costless
resource was replaced with the notion that the world was a closed system with
limited space, air, water, and other resources. Environmentalists coined which of
the following terms to refer to this new point of view?
-smart growth
-the silent spring
-spaceship earth
-urban sprawl - ✔✔Spaceship Earth
Given the following information, compute the property tax rate for the
community in percentage terms. Total budget expenditures: $108 million; total
nonproperty tax income: $50 million; total assessed value of all properties: $2
billion; total exemptions: $550 million.
-2.5%
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