Study guides, Class notes & Summaries

IAAO 101 – Quizzes/50 Questions and Answers

IAAO 112 2023-2024|SOLVED&UPDATED|DOWNLOAD TO PASS

IAAO Course 101 Fundamentals of Real Property Appraisal

IAAO 101 Exam Questions And Answers

Discover List Value taxable property - answer-Basic appraiser responsibilities Standard 6: Scope of Work - answer-USPAP standard for appraisal practice ad valorem tax - answer-Property tax based on value Tax Rate (formula) - answer-Budget (minus other revenue) / Assessed Value of Jurisdiction Tax Bill (formula) - answer-Tax Rate x Ind. Property Assessed Value Assessed Value (AV) formula - answer-Assessment Ratio (AR) x Market Value (MV) Pro...

IAAO Course 101 (Quiz #1 - Multiple Choice)Questions & Answers

THE BASIC RESPONSIBLITIES OF THE ASSESSOR ARE TO ________________________________ALL TAXABLE PROPERTY - answer-LIST VALUE DISCOVER ONE OF THE STEPS AN ASSESSOR MUST TAKE IN THE DISCOVERY OF PROPERTY IS - answer-PERIODIC ON-SITE INSPECTIONS A PROPERTY TAX IS A/AN ____________________________TAX, MEANING IT IS BASED ON VALUE - answer-AD VALOREM ASSUME THE FOLLOWING CHARACTERISTICS FOR A SINGLE FAMILY RESIDENCE: ACTUAL VALUE = $175,000 ASSESSMENT LEVEL = 20% TAX RAT...

The basic responsibilities of the assessor are to ___________________ all taxable property - answer-Discover, List, and Value One of the steps an assessor must take in the discovery of property is to - answer-Conduct periodic on-site inspections of properties The property tax is a/an _____________________ tax, meaning it is based on value. - answer-Ad Valorem If a tax rate is $13.30 per $100, the decimal equivalent would be - answer-0.1330 Actual value = $175,...

Tax Rate (def.) - answer-Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) - answer-Tax revenue (amount) / Assessed value Property Tax (formula) - answer-Subject assessed value / Tax rate Budget Revenue (formula) - answer-Total budget - Other taxes Effective Tax Rate (def.) - answer-Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rat...

ad valorem - answer-According to Value The basic responsibilities of an Appraiser to all taxable property. - answer-1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - answer-Situs The type of value usually estimated by an Appraiser is the - answer-Market Value The effective tax rate reflects the ratio between what - answer-The current tax bill and the property value Assessment level times the tax...

The property tax is an ____ __________ tax, meaning it is based on value. - answer-ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. - answer-discovery listing valuation The taxable location of personal property is referred to as its __________. - answer-situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. - answer-an appraisal ...

IAAO 101 – Quizzes Exam 2024The basic responsibilities of the assessor are to _________ all taxable property. - answer-A. List B. Value C. Discover D. All of the Above One of the steps an assessor must take in the discovery of property is to: - answer-conduct periodic on-site inspections of properties The property tax is a/an _________________ tax, meaning it is based on value. - answer-ad valorem Assume the following characteristics for a single-family residenc...