759. Which of the following would not be subject to property tax:A. Mobile homes properly installed on a

permanent foundation;B. Vacant land located in an unincorporated

area of the county;C. Intangible personal property;D. Possessory interests of lessees in tax-

exempt public property, such as leases on oil and gas properties.

759. Which of the following would not be subject to property tax:A. Mobile homes properly installed on a

permanent foundation;B. Vacant land located in an unincorporated

area of the county;C. Intangible personal property;D. Possessory interests of lessees in tax-

exempt public property, such as leases on oil and gas properties.

Property taxes – Not intangible personal property

339. Which of the following would be least satisfactory in providing a legal description for a parcel of real property:A. Escrow instructions;

B. Preliminary title reports;

C. Deeds;

D. Bills for real property taxes.

339. Which of the following would be least satisfactory in providing a legal description for a parcel of real property:A. Escrow instructions;

B. Preliminary title reports;

C. Deeds;

D. Bills for real property taxes.

Tax Bills – No legal description

340. Property taxes throughout the United States are levied and collected on an “ad valorem” basis. “Ad valorem” most nearly means:

A. Replacement value;

B. Current value;

C. According to value;

D. Fixed value.

340. Property taxes throughout the United States are levied and collected on an “ad valorem” basis. “Ad valorem” most nearly means:

A. Replacement value;

B. Current value;

C. According to value;

D. Fixed value.

Ad Valorem – According to value

577. In which of the following situations would a parcel of property be reassessed?A. After the tax rate has been set and the

revenues that are projected are not enough to cover the needs that are projected;

B. Every two years;

C. Only when the buildings have been destroyed and rebuilt;

D. Every time the property is sold.

577. In which of the following situations would a parcel of property be reassessed?A. After the tax rate has been set and the

revenues that are projected are not enough to cover the needs that are projected;

B. Every two years;

C. Only when the buildings have been destroyed and rebuilt;

D. Every time the property is sold.

Property reassessed – When sold

799. If the owner of a property thinks that his property has been over-assessed by the county assessor, he would contact the:

A. Department of Real Estate;

B. Board of Supervisors;

C. Assessment Appeals Board;

D. County tax collector.

799. If the owner of a property thinks that his property has been over-assessed by the county assessor, he would contact the:

A. Department of Real Estate;

B. Board of Supervisors;

C. Assessment Appeals Board;

D. County tax collector.

Over-assessed – Assessment Appeals Board

347. Concerning the second installment of real property taxes in California, the due date and delinquent date are respectively:

A. November 1 and December 10;

B. July 1 and November 1;

C. February 1 and April 10;

D. January 1 and March 10.

347. Concerning the second installment of real property taxes in California, the due date and delinquent date are respectively:

A. November 1 and December 10;

B. July 1 and November 1;

C. February 1 and April 10;

D. January 1 and March 10.

Dates – February 1, April 10

337. Real property is “sold to the state by operation of law” immediately after real property taxes become delinquent. The owner-occupant:

A. Is free of liability for taxes levied during this period;

B. Must pay rent to the state;

C. Remains in undisturbed possession;

D. Must vacate the property.

337. Real property is “sold to the state by operation of law” immediately after real property taxes become delinquent. The owner-occupant:

A. Is free of liability for taxes levied during this period;

B. Must pay rent to the state;

C. Remains in undisturbed possession;

D. Must vacate the property.

Delinquent tax sale – Owner remains in possession

344. Beginning with the date when a parcel of property is sold to the state for delinquent taxes, the taxpayer's right of redemption exists for:A. 1 year;

B. 3 years;

C. 5 years;

D. 7 years.

344. Beginning with the date when a parcel of property is sold to the state for delinquent taxes, the taxpayer's right of redemption exists for:A. 1 year;

B. 3 years;

C. 5 years;

D. 7 years.

Delinquent taxes – Owner can redeem for 5 years

690. In which of the following ways do special tax assessments on property differ from annual tax assessments:A. Special assessments provide for local

improvement;B. Special assessments are levied only by

improvement districts;C. When special assessments become

delinquent, they require judicial foreclosure;D. Special assessment liens are always

subordinate to tax liens.

690. In which of the following ways do special tax assessments on property differ from annual tax assessments:A. Special assessments provide for local

improvements;B. Special assessments are levied only by

improvement districts;C. When special assessments become

delinquent, they require judicial foreclosure;D. Special assessment liens are always

subordinate to tax liens.

Assessment liens – For local improvements

350. A developer can use the Improvement Act of 1911 as amended to raise funds for all of the following purposes, except:

A. To purchase land for subdivision;

B. To provide for drainage;

C. To construct sewers;

D. To develop off site improvements.

350. A developer can use the Improvement Act of 1911 as amended to raise funds for all of the following purposes, except:

A. To purchase land for subdivision;

B. To provide for drainage;

C. To construct sewers;

D. To develop off site improvements.

Assessment liens – Cannot purchase land

841. Which of the following is primarily responsible for disclosure to the buyer of an existing Mello-Roos tax assessment on a parcel of real property:

A. The seller;

B. The listing agent;

C. The selling agent;

D. The local tax collector.

841. Which of the following is primarily responsible for disclosure to the buyer of an existing Mello-Roos tax assessment on a parcel of real property:

A. The seller;

B. The listing agent;

C. The selling agent;

D. The local tax collector.

Mello-Roos – Seller must disclose

351. When a house sells for $50,000, with the buyer paying cash and assuming an existing loan of $30,000, and the documentary transfer tax rate is 55 cents for each $500 of consideration, how much would the documentary transfer tax be:

A. $11;

B. $22;

C. $33;

D. $55.

351. When a house sells for $50,000, with the buyer paying cash and assuming an existing loan of $30,000, and the documentary transfer tax rate is 55 cents for each $500 of consideration, how much would the documentary transfer tax be:

A. $11;

B. $22;

C. $33;

D. $55.

Transfer tax – $22

623. A property sold for $150,000 in a county which had established a documentary transfer tax rate of $.55 for each $500 of consideration or fraction thereof. Of the purchase price $125,000 was subject to the tax. Which of the following is nearest to the tax that would have to be paid:

A. $55;

B. $138;

C. $516;

D. $750.

623. A property sold for $150,000 in a county which had established a documentary transfer tax rate of $.55 for each $500 of consideration or fraction thereof. Of the purchase price $125,000 was subject to the tax. Which of the following is nearest to the tax that would have to be paid:

A. $55;

B. $138;

C. $516;

D. $750.

Transfer tax – $138

End of session