Assessments Made Against Real Estate for the Purpose of Funding

question 18

True/False

Assessments made against real estate for the purpose of funding new street lights are not deductible in the year paid but rather should be added to the cost basis of the property.

---

Definitions:

Numbering Visuals

The practice of assigning sequential numbers to visual elements (e.g., tables, figures) for easy reference and organization.

Decorative Visuals

Visual elements that are primarily intended to enhance aesthetics rather than to convey important information.

Visuals

Images, diagrams, graphics, or any other visual elements used to convey information or support textual content.

Cross-hatching

An artistic technique used for shading and texturing by drawing closely spaced parallel lines that may intersect.