Arizona property taxes are based on: ✔✔Assessed value
The tax rate applied to owner occupied residential property is: ✔✔10 %
What lien has priority first: ✔✔Property taxes
Property taxes become a lien the first day of: ✔✔January
If a property is not bid at a tax foreclosure sale: ✔✔Anyone can later buy the tax lien from the
Treasurer
Rank the following in order:
IRS lien, Property Taxes, Special Assessments ✔✔Property Taxes, Special Assessments, IRS
Liens
When a broker misappropriates funds, this is called: ✔✔Conversion
What type of property would have the highest tax rate: ✔✔Shopping center
What is the priority of property tax liens: ✔✔Always in first position
When are the first half property taxes delinquent: ✔✔November 1
The two designations or classifications of water law in Arizona are: ✔✔Ground the surface
Taxes are assessed on: ✔✔Value of the property
The doctrine of water usage in Arizona is known as: ✔✔Prior appropration
Water rights in Arizona are: ✔✔First in time, first in right
In Arizona, property taxes are payable: ✔✔Twice a year
When a party owns land on a non-navigable stream, it is said they hold title to: ✔✔Lower water
mark
When the county assessor evaluates real estate for the purpose of taxation, this is called:
✔✔Assessed value
Real estate taxes are levied in Arizona: ✔✔Once a year
Second half real estate taxes are due: ✔✔march 1st
Once a homeowner’s association establishes the assessments, they are paid: ✔✔Annually based
on the homeowner’s association’s budget
What is paid first after a foreclosure: ✔✔Property taxes
At thend of the three-year tax redemption period, a person who holds the certificate purchase:
✔✔May extend the period
Which best describes prior appropriation:
Reliction
First in time first in right
Riparian rights
Adequate water supply ✔✔First in time, first in right
Ad valorem would apply to: ✔✔Property taxes
The redemption period in a property tax foreclosure would be how long after the certificate of
purchase has been issued: ✔✔3 years
What lien has second priority:
delinquent taxes since 2004, mortgage recorded in 2002, IRS lien recorded in 2006 ✔✔Mortgage
A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title
with what lien that is unpaid as of close of escrow: ✔✔Property taxes for the current year for the
property being sold