Real Estate Taxes and Liens Quiz

How much is the transfer tax if: a buyer purchases a home for $300,000 and assumes the existing loan of $58,000?

$242
$342
$202
$300

In Georgia, impact fees are:

charges to support the work of local planning departments
fees charged by the police to provide extra security to job sites
charges by the Department of Transportation to offset the damage construction equipment will do to roads
fees charges by local jurisdiction to pay for new schools and utilities arising from projected increases in the local population

The transfer tax stamp for a recently sold property indicates that $200.00 was paid for the county transfer tax. What was the sales price of the property?

$200,000
$210,000
$175,000
$100,000

How does one calculate tax rate?

tax value – tax base
tax base/tax requirement
assessed value – homestead exemption
tax requirement/tax base

Which lien would usually be given highest priority in distributing funds from a foreclosure sale?

A mortgage dated more than five to seven years
judgement liens
unpaid real estate property taxes
lien owed on the property before the current mortgage homeowner

Real Estate Taxes and Liens Quiz

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