Even If Property Tax Rates Are Not Changed, the Amount

question 96

True/False

Even if property tax rates are not changed, the amount of ad valorem taxes imposed on realty may not remain the same.

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines rights and duties each party has agreed to.

Valid

A term applied to a contract that includes all four elements of a contract—agreement (offer and acceptance), consideration, contractual capacity, and legal object—and thus is enforceable.

Recognizable Beneficiaries

are individuals or entities that can clearly be identified as intended to benefit from a contract, trust, or legal arrangement, even if not directly party to it.

Agents of Beneficiaries

Individuals or entities acting on behalf of those who are to receive benefits or rights under a contract, will, or trust.