Flashcards in Chapter 8: Real Estate Taxes Deck (6)
A charge against property created by operation of law. Tax liens and assessments take priority over all other liens.
Ad Valorem Tax
Is Latin for "according to value". Al Valorem taxes are based on the value of the property being taxed.
Are special taxes that require property owners to pay for improvements that benefit the real estate they own.
The action taken by each taxing body that authorizes the expenditures of funds and provides for the source of monies.
Is one-thousandth of a dollar. ($0.001)