Florida Real Estate Practice Exam

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What triggers reassessments of property that could lead to higher taxes?

Change in the economic conditions
Change in ownership or property improvements
Change in zoning laws
Change in mortgage rates

The correct answer is: Change in ownership or property improvements

Assessing property values is an important part of determining property taxes. In most cases, these values are reassessed when a change in ownership or property improvements occur. This is because these changes can significantly impact the overall value of the property. Economic conditions, zoning laws, and mortgage rates may also indirectly affect property values, but they are not direct triggers for reassessments. Therefore, options A, C, and D are incorrect.