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ARIZONA REAL ESTATE EXAM NEWEST 2024 -2025
ACTUAL EXAM COMPLETE 300 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Arizona property taxes are based on: - ANSWER- Assessed
value
The tax rate applied to owner occupied residential property is: -
ANSWER- 10 %
Which of the following leins would have priority? - ANSWER- Property taxes
Property taxes become a lien the first day of - ANSWER- January
If a property is not bid at a tax lien sale: - ANSWER- Anyone
can later buy the tax lien from the Treasurer
Rank the following liens in the order of their priority from
highest to lowest: IRS lien, Property Taxes, Special
Assessments. - ANSWER- Property Taxes, Special Assessments, IRS Liens 1 / 4
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What type of property would have the highest tax rate - ANSWER- Shopping center
What is the priority of property tax liens? - ANSWER- Always in first position
When are the first half property taxes delinquent? - ANSWER- November 1
Taxes are assessed on: - ANSWER- Value of the property
In Arizona, property taxes are payable: - ANSWER- Twice a
year
When the county assessor evaluates real estate for the hep
purpose of taxation, this is called: - ANSWER- Assessed value
In Arizona real estate taxes are levied: - ANSWER- Once a year
Second half real estate taxes are due: - ANSWER- March 1st
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Once a homeowner's association establishes the assessments,
they are paid: - ANSWER- Annually based on the homeowner's
association's budget
Which of the following liens are paid first after a foreclosure? - ANSWER- Property taxes
At the end of the three-year tax redemptiorn period, a person
who holds the certificate of purchase: - ANSWER- May extend
the period
Ad valorem would apply to which of the following - ANSWER- Property taxes
The redemption period in a property tax foreclosure would be
how long after the certificate of purchase has been issued: -
ANSWER- 3 years
Of the following liens: delinquent taxes since 2004, mortgage
recorded in 2002, IRS lien recorded in 2006, which has second priority? - ANSWER- Mortgage
A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens 3 / 4
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remaining unpaid as of close of escrow - ANSWER- Property taxes for the current year for the property being sold
The Homestead Exemption in Arizona is now set at: -
ANSWER- 150,000
Homestead exemption will protect a person against which of the following? - ANSWER- Unforeseen personal judgments
What will NOT terminate a homestead exemption? - ANSWER- Buying other property
If a husband and wife own community property and the husband dies, who receives the husband's half? - ANSWER- Heirs
What action will void a homestead? - ANSWER- Declaring primary residence in another state
In Arizona, property owned before marriage is sole and separate.Property acquired after marriage would be considered - ANSWER- Community property
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