Chapter 18 Real

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Last updated 5:07 AM on 6/23/26
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5 Terms

1
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What does ad valorem mean?

According to value

2
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How are property taxes determined?

Property taxes are ad valorem, meaning they are determined by the value, specifically the assessed value of the property

3
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What is the additional tax exemption for a blind person if the property is homestead?

$5000

4
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What can be deducted from their federal income taxes if a person owns a home?

Mortgage interest and property taxes

5
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What is auctioned when a property owner is delinquent on his property taxes?

A tax certificate