APPRAISER I & II: STUDY GUIDE
EXAM AND ALL ACTUAL ANSWERS
2026 UPDATED.
Calculation for millage rate - Answer Budget/Digest - the budget divided by the net
assessment of the property in the county.
Ad valorem - Answer "according to value" based on the value of the property
What are the three approaches to value? - Answer Cost, Market, Income
To meet the standards of compliance the median ration must be between ____ and ____. -
Answer .36 - .44
What are the 3 types of depreciation? - Answer Functional, physical, economic
Assessed value / .40 = - Answer Fair Market Value
What is the formula for calculating a tax bill? - Answer Assessed value x Millage rate
What are the 2 classes of property in Georgia? - Answer Tangible & intangible
Tangible - Answer
Intangible - Answer
What is the level of assessment for property taxes in Georgia? - Answer 40%
Fair Market Value - Answer Amount a knowledgeable buyer would pay and a willing seller
would accept.
Arms length transaction - Answer In good faith, non family, non affiliated
What is the date of valuation of property for property taxes in Georgia? - Answer January 1st
, The transaction amount of the most __________ arm's length, bona fide sale in any year shall
be the _____________ allowable FMV for the next taxable year. - Answer Recent, Maximum
All property shall be returned for taxation at its ___________, except as otherwise provided. -
Answer FMV
The time period for filing property taxes is ________ to ________. - Answer Jan. 1 - April 1
List the 8 criteria that the tax assessor shall apply when determining the FMV. - Answer
Zoning
Use
Covenants
Sales
Depreciation
Restrictions
Income
Other - provided by law
In order to qualify for preferential assessment, an individual property owner must
____________________________________________. - Answer Be a natural or naturalized
citizen.
What is the maximum amount of acreage that a property owner can enter into an FLPA
covenant(s)? - Answer no max
The death of a property owner that had property in a conservation use covenant - Answer Is
a breach without penalty
What is the penalty for a breach of conservation use due to the sale to a non-qualified owner? -
Answer double the cumulative difference in property taxes plus interest.
If a property is under conservation use assessment, buildings used for storing or processing
agricultural products are ______________________________________________________. -
Answer included in the conservation use value
The conservation use values furnished to each county by the DOR are limited to what percent
change in value? - Answer 3%
EXAM AND ALL ACTUAL ANSWERS
2026 UPDATED.
Calculation for millage rate - Answer Budget/Digest - the budget divided by the net
assessment of the property in the county.
Ad valorem - Answer "according to value" based on the value of the property
What are the three approaches to value? - Answer Cost, Market, Income
To meet the standards of compliance the median ration must be between ____ and ____. -
Answer .36 - .44
What are the 3 types of depreciation? - Answer Functional, physical, economic
Assessed value / .40 = - Answer Fair Market Value
What is the formula for calculating a tax bill? - Answer Assessed value x Millage rate
What are the 2 classes of property in Georgia? - Answer Tangible & intangible
Tangible - Answer
Intangible - Answer
What is the level of assessment for property taxes in Georgia? - Answer 40%
Fair Market Value - Answer Amount a knowledgeable buyer would pay and a willing seller
would accept.
Arms length transaction - Answer In good faith, non family, non affiliated
What is the date of valuation of property for property taxes in Georgia? - Answer January 1st
, The transaction amount of the most __________ arm's length, bona fide sale in any year shall
be the _____________ allowable FMV for the next taxable year. - Answer Recent, Maximum
All property shall be returned for taxation at its ___________, except as otherwise provided. -
Answer FMV
The time period for filing property taxes is ________ to ________. - Answer Jan. 1 - April 1
List the 8 criteria that the tax assessor shall apply when determining the FMV. - Answer
Zoning
Use
Covenants
Sales
Depreciation
Restrictions
Income
Other - provided by law
In order to qualify for preferential assessment, an individual property owner must
____________________________________________. - Answer Be a natural or naturalized
citizen.
What is the maximum amount of acreage that a property owner can enter into an FLPA
covenant(s)? - Answer no max
The death of a property owner that had property in a conservation use covenant - Answer Is
a breach without penalty
What is the penalty for a breach of conservation use due to the sale to a non-qualified owner? -
Answer double the cumulative difference in property taxes plus interest.
If a property is under conservation use assessment, buildings used for storing or processing
agricultural products are ______________________________________________________. -
Answer included in the conservation use value
The conservation use values furnished to each county by the DOR are limited to what percent
change in value? - Answer 3%
