Mona inherits her mother's personal residence, which she converts to a furnished rent house.These changes should not affect the amount of ad valorem property taxes levied on the properties.

Question

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Converting the personal residence to a furnished rent house may result in changes to the assessed value of the property, which can impact the amount of ad valorem property taxes levied on the property. The property may be reclassified for tax purposes based on its new use and potential income, which can increase the tax rate and amount owed.

Mona Inherits Her Mother's Personal Residence, Which She Converts to a Furnished