NJ Tax Assessors Exam - Terms and Concepts
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(Latest 2026 Edition)
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Terms in this set (158)
What are the three basic Discovery, listing, and valuation
requirements of the assessor?
To find effective tax rate multiply Assessment level
the tax rate by ____?
The six basic rights associated with Sell, lease/rent, use, give away, enter or leave,
property are ______? refusal to do any of the above
What are the three major Real property, personal property, intangible
classifications of property? personal property
List the appraisal principles which Anticipation, balance, change, competition,
form the foundation for highest and conformity, consistent use, contribution,
best use analysis. increasing and decreasing returns, substitution,
supply and demand, surplus productivity
What are the four forces that Physical, economic, governmental, social
influence value?
, Highest and best use is always the Highest value
that use that would produce the
______ ____ of a property, regardless of
its actual current use.
The four tests for highest and best Legally allowable, physically allowable,
use are _____ financially feasible, maximally productive
List the 7 major steps of the 1. Definition of the problem,
appraisal process. 2. Determination of the scope of the appraisal
3. Preliminary survey and analysis
4. Data collection and analysis
5. Highest and best use analysis
6. Application of the three approaches to value
7. Correlation/reconciliations of indicated values
to derive final estimate of defined value
What are the three approaches to Cost, sales comparison, and income
value used by appraisers to
estimate value?
The land identification system Metes and bounds
based on semi-permanent physical
features or bearings on a compass
is known as ____ and ____.
Residential subdivisions are Block and lot
commonly described by the ____ and
____ system of land identification.
Name the 8 characteristics that Frontage, width, depth, area, shape, topography,
affect land value. location, and off-site improvements
Exam Complete Test , Practice Questions,
Verified Answer Key, and Study Guide for
(Latest 2026 Edition)
Save
Terms in this set (158)
What are the three basic Discovery, listing, and valuation
requirements of the assessor?
To find effective tax rate multiply Assessment level
the tax rate by ____?
The six basic rights associated with Sell, lease/rent, use, give away, enter or leave,
property are ______? refusal to do any of the above
What are the three major Real property, personal property, intangible
classifications of property? personal property
List the appraisal principles which Anticipation, balance, change, competition,
form the foundation for highest and conformity, consistent use, contribution,
best use analysis. increasing and decreasing returns, substitution,
supply and demand, surplus productivity
What are the four forces that Physical, economic, governmental, social
influence value?
, Highest and best use is always the Highest value
that use that would produce the
______ ____ of a property, regardless of
its actual current use.
The four tests for highest and best Legally allowable, physically allowable,
use are _____ financially feasible, maximally productive
List the 7 major steps of the 1. Definition of the problem,
appraisal process. 2. Determination of the scope of the appraisal
3. Preliminary survey and analysis
4. Data collection and analysis
5. Highest and best use analysis
6. Application of the three approaches to value
7. Correlation/reconciliations of indicated values
to derive final estimate of defined value
What are the three approaches to Cost, sales comparison, and income
value used by appraisers to
estimate value?
The land identification system Metes and bounds
based on semi-permanent physical
features or bearings on a compass
is known as ____ and ____.
Residential subdivisions are Block and lot
commonly described by the ____ and
____ system of land identification.
Name the 8 characteristics that Frontage, width, depth, area, shape, topography,
affect land value. location, and off-site improvements
