CH 11 Qs

Lulu Carrizales

1. Ad valorem value is the assessor's estimate of a property's _____________ for taxation purposes:
   a.  Market value
   b.  Fixtures
   c.  Collateral
   d.  None
    
2. Which of the following are NOT considered tax-exempt property:
   a. Non-Profits
   b. Bars
   c. Churches
   d. All of the above
   
3. Property Tax Savings from Exemptions =
   a.  Tax Digest x Interest Rate
   b.  Exemption Amount x Tax Digest
   c.  Exemption Amount x Tax Rate
   d.  None of the above
   
4. The Homestead exemption is a common assessed value deduction to temporary tenants. (T/F)
   
5. When an assessor determines a value that is used to calculate property taxes it is called assessed value (T/F)
   
6. Taxable value is the assessed value after all applicable exemptions. (T/F)
   
7. Millage rate is a rate of 1 per 1,000 (T/F)
   
8. A restaurant is a tax-exempt property (T/F)

KEY
1.  A
2.  B
3.  C
4.  F
5.  T
6.  T
7.  T
8.  F