To generate revenue for local governments

To control the growth and development of real estate

To promote affordable housing

To ensure equitable distribution of wealth

Property tax

Capital gains tax

Sales tax

Transfer tax

Purchase price

Assessed value

Market value

Original cost

Property owner

Tenant

Mortgage lender

Real estate agent

Monthly

Quarterly

Semi-annually

Annually

A legal claim against a property for unpaid taxes

A type of mortgage

A government-issued bond

A property ownership certificate

To determine the taxable value of a property

To inspect the condition of a property

To calculate the amount of rent due

To determine the eligibility for tax exemptions

Exemptions reduce the taxable value of a property, while deductions reduce the amount of taxes owed

Exemptions are granted to specific groups of taxpayers, while deductions are available to all taxpayers

Exemptions are permanent, while deductions are temporary

Exemptions are more valuable than deductions

A tax on the profit from the sale of a capital asset

A tax on the income from a capital asset

A tax on the value of a capital asset

A tax on the transfer of a capital asset

Property tax is paid annually, while transfer tax is paid once at the time of property transfer

Property tax is based on the assessed value of the property, while transfer tax is based on the sale price

Property tax is paid by the property owner, while transfer tax is paid by the buyer

All of the above

To update the taxable value of a property

To inspect the condition of a property

To determine the eligibility for tax exemptions

To calculate the amount of rent due

A deed issued by the government to a property owner who has paid all property taxes

A deed issued by the government to a property owner who has defaulted on property taxes

A deed issued by a property owner to a buyer at the time of property transfer

A deed issued by a lender to a borrower at the time of a mortgage loan

A property tax exemption for owner-occupied residential properties

A property tax exemption for agricultural land

A property tax exemption for historic properties

A property tax exemption for low-income homeowners

To challenge the assessed value of a property

To apply for a property tax exemption

To request a refund for overpaid property taxes

To transfer ownership of a property