11. The tax assessors office has a tax card for all property in the county. The value will be allocated to: a. land and improvements b. land and personal property c. buildings and animals d. wetlands and usable real estate

12. Dr. Brice purchased a property for $200,000. The assessed value is $250,000, of which $50,000 is for land and $200,000 is for improvements. The allocation of the basis for this property is: a. Land = $50,000; Improvements = $150,000 b. Land = $63,000; Improvements = $137,000 c. Land = $100,000; Improvements = $100,000 d. Land = $40,000; Improvements = $160,000

13. The tax liability on a sale of a property that was bought without financing is (you can look at Line 10 on the Annual Cash Sales Worksheet): a. The sales price multiplied by the tax rate and the assessed value. b. Equal to the NOI c. The amount of tax owed on the capital gain created from appreciation plus the amount of tax owed on the gain created by the recapture of the straight-line cost recovery. d. None of the above