Transfer Of TitleTaxes
Transfer Of Title Practice Question
New Jersey property taxes are based on:
A
Purchase priceB
Assessed value set by the municipal tax assessorC
Square footageD
Income generatedExplanation
Property taxes are based on the assessed value determined by the municipal tax assessor, which should reflect market value.
Related Concepts
Many states have laws to limit how much property taxes can increase each year, regardless of market value fluctuations.
More Transfer Of Title Questions
Practice More Questions
Access 2,000+ practice questions and pass your real estate exam.
Get Started Free