Property Tax Consultant Exam Review
The Texas Property tax code, section 41, provides for local review which - ANSlists the reasons for
taxpayer appeals
Property value may be estimated by using - ANSsales comparison, income capitalization, and cost
approach
the Texas property tax code, section 42, provides for judicial review including - ANSthe right to appeal
the order determining protest from the ARB
appraisal review board (ARB) members are compensated by - ANSthe appraisal district
once a person is appointed to the ARB - ANSmay be removed only by a majority vote of the appraisal
districts board of directors
the ARB has the authority to - ANSsubpoena witnesses, records and financial documents of a business
uniform standard of professional appraisal practices (USPAP) - ANSare required to be used by appraisal
districts when estimating market value
after the ARB has heard evidence from the protesting party and appraisal district they shall determine
the protest and - ANSnotify the taxpayer of their decision by written order
equal and uniform taxation is mandated by - ANSthe Texas constitution and the Texas property tax code
according to the Texas Property Tax Code, a tax bill mailed after January 10, has a delinquency date of -
ANSthe first day of the next month, providing at least 21 days to pay
business personal property - ANSmay be tangible or intangible
, a taxpayer may - ANSdesignate an agent to receive only communications from the chief appraiser, the
ARB and represent them in property tax matters
an acre of land contains - ANS43,560 square feet
representation of a property owner is governed by what section of the Texas Property tax code -
ANSsection 1.111
an easement is an interest in real property that - ANStransfers use, but not ownership, of the property
an analysis of real property includes - ANShighest and best use of the property
an important component of the income approach is - ANSthe capitalization rate
a step in the cost approach would include - ANSa separate valuation of the land, as if vacant
the sales comparison approach is best supported by - ANSseveral sales of similar properties in the same
neighborhood or market area
a method of land surveying that describes a parcel of land is - ANSmetes and bounds
when estimating the value of land, it is necessary to consider - ANSthe size and shape of the land
an improvement which works and is useful is said to have - ANSfunctional utility
market value less total development costs equal - ANSprofit (or less)
income less operating expenses equals - ANSnet operating income
The Texas Property tax code, section 41, provides for local review which - ANSlists the reasons for
taxpayer appeals
Property value may be estimated by using - ANSsales comparison, income capitalization, and cost
approach
the Texas property tax code, section 42, provides for judicial review including - ANSthe right to appeal
the order determining protest from the ARB
appraisal review board (ARB) members are compensated by - ANSthe appraisal district
once a person is appointed to the ARB - ANSmay be removed only by a majority vote of the appraisal
districts board of directors
the ARB has the authority to - ANSsubpoena witnesses, records and financial documents of a business
uniform standard of professional appraisal practices (USPAP) - ANSare required to be used by appraisal
districts when estimating market value
after the ARB has heard evidence from the protesting party and appraisal district they shall determine
the protest and - ANSnotify the taxpayer of their decision by written order
equal and uniform taxation is mandated by - ANSthe Texas constitution and the Texas property tax code
according to the Texas Property Tax Code, a tax bill mailed after January 10, has a delinquency date of -
ANSthe first day of the next month, providing at least 21 days to pay
business personal property - ANSmay be tangible or intangible
, a taxpayer may - ANSdesignate an agent to receive only communications from the chief appraiser, the
ARB and represent them in property tax matters
an acre of land contains - ANS43,560 square feet
representation of a property owner is governed by what section of the Texas Property tax code -
ANSsection 1.111
an easement is an interest in real property that - ANStransfers use, but not ownership, of the property
an analysis of real property includes - ANShighest and best use of the property
an important component of the income approach is - ANSthe capitalization rate
a step in the cost approach would include - ANSa separate valuation of the land, as if vacant
the sales comparison approach is best supported by - ANSseveral sales of similar properties in the same
neighborhood or market area
a method of land surveying that describes a parcel of land is - ANSmetes and bounds
when estimating the value of land, it is necessary to consider - ANSthe size and shape of the land
an improvement which works and is useful is said to have - ANSfunctional utility
market value less total development costs equal - ANSprofit (or less)
income less operating expenses equals - ANSnet operating income
