A Fixture Will Be Subject to the Ad Valorem Tax

question 159

True/False

A fixture will be subject to the ad valorem tax on personalty rather than the ad valorem tax on realty.

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Definitions:

Sealed Auction

An auction format in which all bids are submitted simultaneously in sealed envelopes, and the highest bid wins without bidders knowing the bid amounts of others.

Oral Auction

In this auction type, bidders submit increasing bids until only one bidder remains. The item is awarded to the last remaining bidder.

Oral Auction

An auction conducted by an auctioneer who calls out prices of items for which participants physically present place bids verbally.

Expected Selling Price

The price at which a seller anticipates being able to sell a product or service.