Florida Real Estate Practice Exam

Laura's property is subject to a special assessment. Which of the following is true?

1. The amount of the special assessment does not become a lien against her property like ad valorem taxes.

2. The special assessment is deductible for income tax purposes.

3. The special assessment must benefit Laura's property.

4. The special assessment will not accumulate interest.

The correct answer is: The special assessment must benefit Laura's property.

Property owners are required to pay special assessments for public improvements that benefit their specific properties. These assessments are not like ad valorem taxes which become a lien against the entire property. Therefore, option A is incorrect. Special assessments are not tax deductible, so option B is also incorrect. Additionally, a special assessment must be for a specific benefit to the owner's property, making option C the correct answer. Lastly, just like other types of taxes or assessments, special assessments will accumulate interest if not paid in a timely manner, so option D is also incorrect.