Humber/Ontario Real Estate Course 1 Exam Practice

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About property taxation rights, what does the government enforce?

  1. Annual property taxes but not land transfer taxes

  2. Levying taxes related specifically to commercial properties only

  3. Government action to acquire private property for public good, not taxation rights

  4. Annual property taxes which may include land transfer taxes

  5. Only imposing taxes at the municipal level but not provincial

  6. Zoning codes associated with property taxes

The correct answer is: Annual property taxes which may include land transfer taxes

The correct answer is D. Annual property taxes which may include land transfer taxes. This is the correct answer because property taxes are an annual tax levied by the government at both municipal and provincial levels. Land transfer taxes, on the other hand, are typically paid when the ownership of a property is transferred from one party to another. Both of these taxes are enforced by the government to generate revenue and fund public services. Options A, B, C, E, and F are incorrect because they do not accurately reflect the government's enforcement of property taxation rights. It is essential to understand that property taxes and land transfer taxes are key components of property ownership and transactions, and the government plays a crucial role in enforcing these tax obligations.

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