Iaao course 101 shotgun - Study guides, Class notes & Summaries
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IAAO Course 101 Review Questions with Verified Answers(2023/24) A+
- Exam (elaborations) • 19 pages • 2023
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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.
Exam (elaborations)
IAAO Course 101 Review Questions with Verified Answers(2023/24) A+
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ago
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.
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