Texas Property Tax Consultant Exam Review questions with verified answers

Texas Property Tax Consultant Exam Review
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questions with verified answers |\ |\ |\




The Texas Property Tax Code, Section 41, provides for
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local review which...
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a. Lists the reasons for taxpayer appeals
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b. Lists the type of exemptions available to the taxpayer
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c. Lists the different types of taxable property
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d. Lists the qualifications to serve on an Appraisal Review
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Board (ARB) - CORRECT ANSWERS ✔✔a. Lists the reasons
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for taxpayer appeals
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Property Value may be estimated by using...
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a. Situs, depreciation and prices per square foot of
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improvements
b. Age/life method, historical cost, replacement cost new
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c. Sales comparison, income capitalization, and cost
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approach
d. Principle of substitution, supply and demand, Principle
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of balance - CORRECT ANSWERS ✔✔c. Sales comparison,
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income capitalization, and cost approach
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,The Texas Property Tax Code, Section 42, provides for
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Judicial Review including... |\ |\




a. The rights of disabled veterans
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b. The right to appeal the Order Determining Protest from
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the ARB |\




c. Alternate appeal methods in lieu of an appeal to the
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ARB
d. The rights of filing late applications - CORRECT
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ANSWERS ✔✔b. The right to appeal the Order
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Determining Protest from the ARB |\ |\ |\ |\




Appraisal Review Board (ARB) members are compensated
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by...
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a. The State Comptroller's Office
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b. The taxing units located in the district
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c. The appraisal district
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d. Each person who files an appeal to the ARB - CORRECT
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ANSWERS ✔✔c. The appraisal district |\ |\ |\ |\




Once a person is appointed to the ARB...
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,a. He/She cannot be removed from the ARB during the
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appointed term |\




b. May be removed only by a majority vote of the
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appraisal district's board of directors |\ |\ |\ |\




c. May be removed only by the State Comptrollers Office
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d. May be removed only by a majority of voting taxpayers
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within the district - CORRECT ANSWERS ✔✔b. May be
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removed only by a majority vote of the appraisal district's
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board of directors
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The ARB has the authority to...
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a. Subpoena witnesses, records and financial documents
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of a business
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b. Terminate the employment of the chief appraiser
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c. Select the person who will represent the district at a
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hearing
d. Set tax rates for taxing entities within the county they
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serve - CORRECT ANSWERS ✔✔a. Subpoena witnesses,
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records and financial documents of a business
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Uniform Standard of Professional Appraisal Practices
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(USPAP)...


a. Do not apply when using mass appraisal techniques
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, b. Have no effect on market value for property tax
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purposes
c. Are required to be used by appraisal districts when
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estimating market value |\ |\




d. Are used only when appraising property for finance
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purposes - CORRECT ANSWERS ✔✔c. Are required to be
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used by appraisal districts when estimating market value
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After the ARB has heard evidence from the protesting
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party and appraisal district, they shall determine the
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protest and... |\




a. Notify the taxing unit of its decision
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b. Notify the taxpayer electronically of their decision
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c. Notify the chief appraiser of their decision
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d. Notify the taxpayer of their decision by written order -
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CORRECT ANSWERS ✔✔d. Notify the taxpayer of their |\ |\ |\ |\ |\ |\ |\ |\



decision by written order |\ |\ |\




Equal and uniform taxation is mandated by...
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a. The State Comptrollers Office
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b. The ARB
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c. The Texas Constitution and the Texas Property Tax Code
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