Environmental
Wetlands on a property are significant to a buyer because:
AThey always increase property value
BThey may restrict development and require federal or state permits✓ Correct
CThey must be drained before any sale
DThey reduce property taxes automatically
Explanation
Wetlands are regulated under federal law (Section 404 of the Clean Water Act) and state law; filling or altering them typically requires permits, restricting development options.
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Key Terms to Know
Transfer Tax
A tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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