D. The basis is the amount used to calculate capital gains on an investment.
B. The homestead exemption is subtracted from the assessed value to arrive at the taxable value.
D. Sale of a home will trigger a reassessment which could change the property taxes significantly.
B. Only one home at a time may qualify for the homestead exemption.
D. Exemptions for people over 65 have an income limitation, so not all may qualify.
D. Like-kind means real estate for real estate. Use of the property doesn’t matter.
B. When prices go up, demand goes down. Inverse means the two factors under consideration move in opposite directions.
C. This is a matter of knowing the terminology for referring to the vacancy rate. This situation could also be referred to as a 90% occupancy rate (not one of the choices).
A. Because sellers can demand higher prices for their properties, when there is an undersupply it is called a seller’s market.
C. This is definitional in Florida.
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