Governmental Powers Quiz Attempt #4

Governmental Powers Quiz Attempt #4

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*Estates in Land*

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Question 1 of 9

1. Question
Which statement is correct regarding the gross receipts tax imposed by some local jurisdictions in Georgia?:
- 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.
- The tax can be imposed on any transaction in which a party of the transaction resided in the jurisdiction.
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Question 2 of 9

2. Question
What % are GA properties assessed at for tax purposes?
- 25% of market value
- 75% of market value
- 40% of market value
- determined by assessor
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Question 3 of 9

3. Question
Define impact fees:
- 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 4 of 9

4. Question
A non-possessory interest in property owned by someone else is called an ______
- easement
- ingress
- egress
- none of the above
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Question 5 of 9

5. Question
Which of these taxes do homeowners pay?
- personal property tax
- real property tax
- luxury tax
- sales tax
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Question 6 of 9

6. Question
A municipality may regulate all of the following about housing except
- restrictive covenants
- type of structure
- building heights
- lot sizes
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Question 7 of 9

7. Question
When in an exclusive agency buyer agency contract, if someone purchases a property on their own, they _____ have to pay the buyer’s agent.
- always
- do not
- sometimes
- choose to pay or not pay
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Question 8 of 9

8. Question
For tax purposes, what percent are propertes in Georgia assessed?
- 30% of market value
- Market value
- 15% of market value
- 40% of market value
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Question 9 of 9

9. Question
An improvement that intrudes on another’s property is:
- An illegal construct
- Encroachment
- An improvement that intrudes
- An illegal construct and encroachment
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