This event could trigger a new property tax assessment:
A) a refinance by the current owner
B) a real estate transfer
C) a construction loan
D) the rental of a single family residence

Question

Quizplus · Accepted Answer

A real estate transfer, such as a sale or inheritance of the property, is typically the event that triggers a new property tax assessment. The new owner would be responsible for paying property taxes based on the assessed value of the property. Refinancing or obtaining a construction loan would not necessarily trigger a new assessment, as they do not involve a transfer of ownership. Renting out a single family residence may affect the property's assessed value in some states, but it would not necessarily trigger a new assessment.

This Event Could Trigger a New Property Tax Assessment