Iaao 101 review questions - Study guides, Class notes & Summaries

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 appraisal A jurisdiction's...

IAAO 101 - Review Questions and Answers (2024 / 2025) (Verified Answers)

IAAO 101 – Review/ 103 Questions and Answers; A+ GUARANTEED.

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 appraisal A jurisdiction's tax rate...

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 appraisal ...

IAAO Course 101 Review; Questions & Answers 100 Solved 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

IAAO 101 - Review; Questions & Answers 100 Solved 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,

IAAO 101 - Review Questions with Complete Solutions 2023

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 jurisdiction's tax rat...

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...