Iaao 101 review - Study guides, Class notes & Summaries

IAAO 101 - Review Questions with Verified Answers Graded A+ 1. ad valorem 2. discovery listing valuation 3. situs 4. an appraisal 5. budget assessed valuation 6. market 7. effective tax rate 8. utility scarcity The property tax is an tax, meaning it is based on value. The assessor is responsible for the , , and of all taxable prop- erty. The taxable location of personal property is re- ferred to as its . An estimat

IAAO 101 - Review Questions with Verified Answers 1. The property tax is an tax, meaning it is based on value. ad valorem 2. The assessor is responsible for the , discovery , and of all taxable property. 3. The taxable location of personal property is referred to as its . 4. An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed . 5. A jurisdiction's tax rate is determined by dividing the to be derived from property tax by the ...

IAAO 101 - Review Questions with Certified Solutions The property tax is an ____ __________ tax, meaning it is based on value. ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. discovery listing valuation The taxable location of personal property is referred to as its __________. situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. an appraisal A jurisd...

IAAO Course 101 Review Questions with Verified Answers Tax Rate (def.) Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) Tax revenue (amount) / Assessed value Property Tax (formula) Subject assessed value / Tax rate Budget Revenue (formula) Total budget - Other taxes Effective Tax Rate (def.) Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rate (formula) Assessment rati...

IAAO Course 101 Review with complete solution 2023/2024

IAAO 101 - Review Questions 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 a...

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IAAO 101 - Review Exam Questions and Answers...

IAAO 101 - Review Questions 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 a...