Governmental Powers Quiz Attempt #2

Governmental Powers Quiz Attempt #2

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*Governmental Powers Quiz Attempt #3*
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*Estates in Land*

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Question 1 of 9

1. Question
In Georgia, which statement is TRUE regarding the gross receipts tax imposed by some local jurisdictions?:
- The tax can be imposed on any transaction in which a party of the transaction resided in the jurisdiction.
- The tax is due only on transactions that occur within the jurisdiction.
- The tax can be imposed on every transaction closed by a company that has an office in the jurisdiction.
- Real estate companies are exempt from gross receipts taxes.
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Question 2 of 9

2. Question
Developers of new homes and subdivisions in metropolitan areas of Georgia may be required to pay “impact fees”. Impact fees are:
- fees charged by local jurisdiction to pay for new schools and utilities arising from projected increases in the local population
- fees charged by the police to provide extra job security to job sites
- charges to support the work of the local planning departments
- charges by the Department of Transportation to offset the damage construction equipment will do to the roads
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Question 3 of 9

3. Question
A right-of-way which gives persons other than the owner access to or over a property is known as an
- easement
- ingress
- egress
- none of the above
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Question 4 of 9

4. Question
Which tax target homeowners in particular?
- personal property tax
- luxury tax
- sales tax
- real property tax
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Question 5 of 9

5. Question
Under its police powers, a municipality may regulate all of the following about housing in a development except:
- lot sizes
- building heights
- type of structure
- restrictive covenants
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Question 6 of 9

6. Question
What do homeowners get taxed on?
- sales tax
- Luxury tax
- real property tax
- personal property tax
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Question 7 of 9

7. Question
What is an exclusive-agency buyer agency contract?
- An agency agreement that allows someone to purchase a property on their own and not pay the buyers agent.
- an agreement that states the buyers agent also has to be the sellers agent
- holds the buyer to the agent, meaning that they can’t just drop the agent and avoid paying the commission
- an agency agreement that states the buyer has to be exclusive specifically to that agency
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Question 8 of 9

8. Question
What percent are properties assessed in Georgia for tax purposes?
- 15% of market value
- 40% of market value
- 30% of market value
- Market value
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Question 9 of 9

9. Question
What is an improvement called when it intrudes on another’s property?
- Illegal construct
- Encroachment
- Encroachment and Illegal construct
- Improvements that intrude
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