1 Chapter 15
CHAPTER 15: Taxes and Assessments
I. Discuss the purpose of Property Taxes
A. Budget and Appropriation
B. Appraisal and Assessment
C. Tax Rate Calculation
D. Applying the Rate
II. Discuss the effect of Unpaid Property Taxes
III. Discuss the Assessment Appeal procedures in
your state
IV. Define Property Tax Exemptions, and give
examples
V. Discuss Property Tax Variations, and whether
Tax Limitation Measures exist in your state
VI. Define Special Assessments, and discuss
A. Forming an Improvement District
B. Confirmation
C. Bond Issues
D. Apportionment
VII. Income Taxes on the Sale of One’s Residence
A. Calculating a Home’s Basis
B. Calculating the Amount Realized
C. Calculating Gain on the Sale
D. Income Tax !”
VIII. Exclusion
IX. Capital Gains
X. Installment Method
XI. Property Tax and Interest Deductions #
XII. Interest Deduction Limitations $
XIII. Impact on Real Estate %
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