The cost of land does not includeGroup of answer choicesannual property taxes.title fees.accrued property taxes assumed by the purchaser.real estate brokers' commission.

The cost of land includes all of the following exceptGroup of answer choicesaccrued property taxes.real estate brokers' commissions.parking lots.closing costs.

The cost of fees for insuring the title and any accrued property taxes are included in the cost of landGroup of answer choicesTrueFalse

Which of the following expenditures would you NOT include in the cost of land?Group of answer choicesreal estate broker's commissionall of these should be included in the cost of land.net demolition costsattorney's fees

The property tax on a house is an amount determined by the local government based on a percentage of which of the following?Land value and bank feesBank interest and insurance feeBuilding and land valueBuilding value and interest rate charged

If land is purchased as a building site, the cost of removing existing structures is not charged to the Land accountGroup of answer choicesTrueFalse