Escrow & Title
A NH property's tax certificate from a town reflects:
AThe appraised market value certified by an appraiser
BThe property's assessed value and tax status — useful for verifying unpaid taxes at closing✓ Correct
CA guarantee that all environmental permits are in order
DThe property's zoning classification
Explanation
A municipal tax certificate confirms the property's assessed value, outstanding tax balance, and payment status. Closing attorneys routinely obtain tax certificates to verify and prorate property taxes.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Math Concepts
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