What Is the Current Annual Cap on the Annual Increase

question 30

Multiple Choice

What is the current annual cap on the annual increase in taxable value for a home?

• A) 1 percent
• B) 50 percent
• C) 10 percent
• D) There is no cap.

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Definitions:

Transferring Ownership

The process of legally moving the title of an asset or property from one entity or individual to another.

Stockholders' Equity

The remaining value of a company's assets after all debts have been subtracted, symbolizing the equity stake of its shareholders.

Treasury Stock

Shares that were issued and subsequently reacquired by the company itself, reducing the amount of outstanding stock on the open market.

Common Stock

An ownership stake in a corporation, represented through a security known as corporate equity ownership.