Iaao course 101 exam - Study guides, Class notes & Summaries

IAAO Course 101 Exam Review With 100% Correct And Verified Answers 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 Answer-Total budget - Other taxes Effective Tax Rate (def.) - Correct Answer-Reflects the relationship between total prop...

IAAO Course 101 Workbook: Chapter 1 EXAM WITH COMPLETE SOLUTION 2023/2024

ad volorem - Answer- according to value 3 Responsibilities of an assessor - Answer- Discover List Value Important tools in the discover of property - Answer- Adequate mapping system Recorded information Periodic on-site inspection Different class identifications - Answer- Real Personal Exempt Utility Important elements in the listing of property - Answer- Legal description Street address Parcel identifier Property class Property use Property situs Physical attributes ...

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...

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...