IAAO 101

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

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

The basic responsibilities of the assessor are to ___________________ all taxable property correct answers Discover, List, and Value One of the steps an assessor must take in the discovery of property is to correct answers Conduct periodic on-site inspections of properties The property tax is ...

ad volorem correct answers according to value 3 Responsibilities of an assessor correct answers Discover List Value Important tools in the discover of property correct answers Adequate mapping system Recorded information Periodic on-site inspection Different class identifications corre...

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

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

Locating and identifying parcels, Computer plotting of parcels, demonstrating GIS capability to the public correct answers What is an accurate set of cadastral maps used for as a major tool in the assessor's discovery process. Property's assessed value correct answers What is the worth of a pro...

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

Discover List Value taxable property correct answers Basic appraiser responsibilities Standard 6: Scope of Work correct answers USPAP standard for appraisal practice ad valorem tax correct answers Property tax based on value Tax Rate (formula) correct answers Budget (minus other revenue) ...

Ownership of a property is the right to correct answers Sell Lease or rent Use Give away Enter or leave Refuse to do any of the above Factors that influence DEMAND correct answers Consumers taste and preference Consumer income Price of related commodities Consumer expectations The price ...