California Real Estate Practice Exam

When is a tax lien placed on a property?

1. January 1, when the assessment roll takes effect

2. April 15, tax day

3. At the time of sale

4. December 31, end of the fiscal year

The correct answer is: January 1, when the assessment roll takes effect

A tax lien is placed on a property on January 1, when the assessment roll takes effect. This is because the assessment roll is a list of all taxable properties in a given area, and on January 1, the assessed value of the properties is determined. This value is used to calculate property taxes for the year. The other options are incorrect because - B: April 15 is tax day, but this is the deadline for individuals to file their income tax returns, not the date when a tax lien is placed on a property. - C: A tax lien can be placed on a property at the time of sale if the property has unpaid taxes, but this is not always the case. The specific timing of a tax lien may vary depending on state and local laws. - D: December 31 marks the end of the fiscal year, but this does not necessarily correspond with when a tax lien is placed on a property. Again, the exact timing may depend on specific laws and regulations.