California Real Estate Practice 4th Edition, by Walt Huber and Arlette Lyons
Matching Vocabulary - Chapter 10
© 2005 Educational Textbook Company

a. Real Property Taxes
b. Ad Valorem Tax
c. Proposition 13
d. Homeowner’s Property Tax Exemption
e. County Assessor
f. Special Assessment Tax
g. Documentary Transfer Tax
h. Mello-Roos Liens
i. Alternative Minimum Tax
j. Progressive Taxes
 
 
1. ___ the law that limits the amount of taxes to a maximum of 1% of the March 1, 1975 market value of the property, plus the cumulative increase of 2% in market value each year thereafter.
2. ___ the county officer responsible for determining the assessed valuation of land, improvements and personal property used in business.
3. ___ taxes determined according to the value of the real property; paid annually or semi-annually.
4. ___ the cost of specific local improvements; levied by a city council or a county board of supervisors, with the voters’ approval.
5. ___ municipal bonds issued to fund streets, sewers, and other infrastructure needs before a housing  development is built (to be paid by buyers).
6. ___ a tax applied to the consideration paid or money borrowed when transferring property, except for any remaining loans or liens.
7. ___ a deduction on the property tax bill of the first 7,000 of assessed value of an owner-occupied property.
8. ___ requires taxpayers, who make above a certain amount of gross income, to figure their taxes twice,  paying which ever amount is higher.
9. ___ when tax rates increase as the amount to be taxed increases.
10. ___ means taxed “according to value.”  It is a tax that is charged in proportion to the value of the property.