Which, If Any, of the Following Transactions Will Increase a Taxing

question 107

Multiple Choice

Which, if any, of the following transactions will increase a taxing jurisdiction's revenue from the ad valorem tax imposed on real estate?

• A)A resident dies and leaves his farm to his church.
• B)A large property owner issues a conservation easement as to some of her land.
• C)A tax holiday issued 10 years ago has expired.
• D)A bankrupt motel is acquired by the Red Cross and is to be used to provide housing for homeless persons.
• E)None of the above.

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Definitions:

Insolvency Proceedings

Legal procedures undertaken when an individual or company is unable to meet its financial debts, aiming to distribute the debtor's assets among creditors and relieve the debtor of further liability.

Authentic Signatures

Legitimate, original, and verified signatures of individuals on a document, indicating consent or agreement.

Enforce the Instrument

The act of legally compelling compliance with the terms outlined in a formal legal document, such as a contract or will.

Notice of Dishonor

A notification that a negotiable instrument, such as a check or promissory note, has been presented for payment and that payment has been refused.