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Chapter 3 - NCRE

LeShaun McKenzie 12 questions

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Questions in this quiz (12)

  1. 1The tax levy against real property to provide the funds to pay all or part of the cost of an improvement to the property is which of the following?
    1. Amechanic’s lien
    2. Bspecial assessment
    3. Cgeneral lien
    4. Djudgment lien
  2. 2Real property taxation in North Carolina:
    1. ARequires listing the property by December 30.
    2. Bmakes September 1 the due date of the tax.
    3. Crequires penalties for paying after September 1.
    4. Dnone of the above.
  3. 3How often may the North Carolina property tax rate be changed?
    1. Aevery eight years
    2. Bevery four years
    3. Cevery two years
    4. Deach year
  4. 4The Jones’s home has an assessed value of $100,000 in a locality where the tax rate is $1.45 per $100. What is their monthly payment for tax escrow?
    1. A$83
    2. B$100
    3. C$121
    4. D$1,450
  5. 5The tax rate is calculated on every $100 of the:
    1. Asales price.
    2. Bappraised value.
    3. Clisting price.
    4. Dassessed value.
  6. 6According to the Machinery Act in North Carolina, all real property must be reassessed for tax purposes at least:
    1. Aevery year.
    2. Bevery two years.
    3. Cevery four years.
    4. Devery eight years.
  7. 7Kim’s house is located within the city limits and has a market value of $240,000. The local tax office is assessing her property at 75% and there are tax rates per $100 of $0.95 for the city and $0.35 for the county. What are her annual taxes for this property?
    1. A$1,710.00
    2. B$2,280.00
    3. C$2,340.00
    4. D$3,120.00
  8. 8Carol’s property has an annual tax bill of $1,495.00 and an assessed value $130,000. What is her tax rate per $100? (rounded)
    1. A$11.50
    2. B$1.15
    3. C$0.87
    4. D$0.01
  9. 9A municipality has total assessed value of property located within its environs of $18,057,000. They have recently adopted an annual budget of $162,513. At what rate per $100 must they tax the local properties in order to meet this budget?
    1. A$0.90
    2. B$1.14
    3. C$9.00
    4. D$11.43
  10. 10George’s property recently sold for $235,000 and has an assessed value of $215,000. If the local tax rate is $1.40 per $100 how much would the annual taxes for this property be?
    1. A$3,290
    2. B$3,150
    3. C$3,010
    4. D$250.83

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Chapter 3 of the NCRE Training
Language
English
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