Module 18

Module 18 introduces real estate taxes, covering the role of government in the taxation process, the procedure to protest assessed value, exemptions and homestead property, computing property tax on a parcel, calculating a special assessment, the tax advantages of home ownership, and determining taxable income from investment real estate.

When you finish reading this module you will be able to:

  1. Describe the role of state and local government in the real property taxation process.
  2. List the steps in the procedure to protest assessed value.
  3. Distinguish among immune, exempt, and partially exempt property.
  4. Describe the various personal exemptions available to qualified owners of homestead property.
  5. Describe the purpose of Florida’s Greenbelt tax exemption.
  6. Compute the property tax on a specific parcel, given the current tax rate, assessed value, and eligible exemptions.
  7. Calculate the cost of a special assessment, given the conditions and amounts involved.
  8. Describe the tax advantages of homeownership.
  9. Explain how to determine taxable income from investment real estate.
  10. Distinguish between installment sales and like-kind exchanges.

 

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