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Flashcards in Homeownership Deck (6):
0

Primary Homeownership expenses can best be summed up with this apropos acronym...(what does it stand for?

PITI

Principal
Interest
Taxes
Insurance

1

These taxes are easy to administer because they are imposed on a known stable tax base.

Property Taxes

2

The increase in the value of a property due to changes in market conditions or other causes.

Appreciation

3

The taxable profit derived from the sale of a capital asset, the difference between the sales price and the adjusted base of the property.

Capital Gains

4

Is responsible for the administration of licensing, examinations, education, and compliance provisions of article 12-A.

Secretary of State

5

The New York State border of real estate has how many members?

13