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IAAO 101 Exam Bundle (Graded A)

IAAO 101 - Review Questions and Answers 2023 IAAO 101 – Quizzes Questions and Answers 2023 iaao 101 Exam Questions with correct Answers IAAO 101 Exam 2023 Questions and Answers IAAO Course 101 Review 2023 Questions with Verified Answers IAAO 101 Quiz 2023 with complete solutions IAAO Course 101 Q...

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IAAO 101 - Review Questions and Answers 2023

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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 ...

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IAAO 101 – Quizzes Questions and Answers 2023

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The 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...

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iaao 101 Exam Questions with correct Answers

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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 ...

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IAAO 101 Exam 2023 Questions and Answers

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Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it refle...

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IAAO Course 101 Review 2023 Questions with Verified Answers

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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 - Ot...

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IAAO 101 Quiz 2023 with complete solutions

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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 _______...

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IAAO Course 101 Questions and Answers

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Tax Rate Formula - Answer- Budget/Assessed Value = Tax Rate ETR - Answer- Effective Tax Rate ETR Formula - Answer- ETR = Assessment Ratio x Tax Rate Real Property - Answer- Consists of the interest, benefits and rights inherent in the ownership of land and anything permanently attached to t...

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IAAO 101 CHAPTER 1: Assessment & Appraisal Theory

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Ad Valorem - Answer- According to value Property Tax is A. an ad valorem tax B. an ad hominem tax C. a federal tax D. a sales tax - Answer- A. an ad valorem tax Assessor Responsibilities - Answer- Discovery, Listing, and Valuation Situs - Answer- Taxable Location Appraisal - Answe...

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IAAO 101-Ch 2 Review 2023 Exam Questions and Answers

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4 factors affecting land values - Answer- Physical (Environmental), Economic, Governmental, Social The Principle of _____ states that returns to land are what remains after returns to labor, management, and capital are satisfied. - Answer- Surplus productivity The 6 methods of land valuation -...

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IAAO Course 101: Chapter 1 Power Point Slides Questions and Answers

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Duties of the Assessor - Answer- Discover, List, Value USPAP - Answer- Uniform Standards of Professional Appraisal Practice Formula for a Tax Rate - Answer- Budget-Revenues from other sources/Total Assessed Value Budget - Answer- The numerator in developing a tax rate Total Assessed Valu...

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IAAO Course 101 Workbook: Chapter 2 Questions and Answers

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Cadastral maps - Answer- Are also known as assessment maps, appraisal maps, ownership maps and tax maps Cadastral maps show - Answer- Boundaries of parcels, size and location of parcels relative to other properties, major physical features such as roads streams railroads, etc... Map scale - An...

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Highlighted IAAO 101- chapter 1-2 Questions with correct Answers

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Cadastral map - Answer- an accurate set of assessment maps . is the major tool for locating and identifying taxable property assessed value - Answer- property taxis based on taxable value How tax rates are expressed - Answer- $65.00/$1000 = .065 72 mills = .072 $8.00/$100= . 08 62.5 mills= ...

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IAAO Course 101 Chapter 3 Questions and Answers

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Cost Approach Formula - Answer- Market Value=Land Value + Improvement Value The Cost Approach is supported by what Principle? - Answer- Substitution-Informed buyers will not pay more to build a house if than the cost to acquire an equally desired one. The shape of building may affect building ...

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Highlighted IAAO 101- chapter 3 – 4 Questions and Answers

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Replacement cost new (RCN) - Answer- replacement cost is the current cost of producing a building or improvement with the same utility Quality survey method - Answer- this is the most comprehensive and accurate method of cost estimation, generalized by engineers. architect, contractors, cost esti...

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IAAO Course 101 Workbook: Chapter 1 Questions with correct Answers

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Assessor - Answer- The government official responsible for administrating the property tax system and for Establishing value for ad valorem tax purposes Requirements of the assessor - Answer- Discovery , listing and valuation Discovery - Answer- Location of all taxable property Listing - An...

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