IAAO 101 Bundle

Cadastral map CORRECT ANSWER an accurate set of assessment maps . is the major tool for locating and identifying taxable property assessed value CORRECT ANSWER property taxis based on taxable value How tax rates are expressed CORRECT ANSWER $65.00/$1000 = .065 72 mills = .072 $8.00/$100= . 0...

The property tax is an ____ __________ tax, meaning it is based on value. CORRECT ANSWER ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. CORRECT ANSWER discovery listing valuation The taxable location of personal property is referred ...

ad valorem CORRECT ANSWER According to Value The basic responsibilities of an Appraiser to all taxable property. CORRECT ANSWER 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' CORRECT ANSWER Situs The type of value usually estimated b...

Tax Rate (def.) CORRECT ANSWER Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) CORRECT ANSWER Tax revenue (amount) / Assessed value Property Tax (formula) CORRECT ANSWER Subject assessed value / Tax rate Budget Revenue (formula) CORRECT ANSW...