11/4/24, 3:10 PM Taptp study questions Flashcards | Quizlet
Taptp study questions WITH COMPLETE SOLUTIONS
GRADED A+.
Terms in this set (99)
The Texas Lists the reasons for taxpayer appeals
Property Tax Code, Section 41, provides for
Local Review which?
Property value may be estimated by using sales comparison, income capitalization, and cost approach
The Texas Property Tax Code, Section 42, the right to appeal the Order Determining Protest from the ARB... right to appeal
provides for Judicial Review including order of appraisal review board determining protest by owner
Appraisal review board (ARB) members are Appraisal District
compensated by?
Once a person is appointed to the ARB may be removed only by a majority vote of the appraisal district's board of directors
The ARB has the authority to subpoena witnesses, records and financial documents of a business
Uniform Standards of Professional are required to be used by appraisal districts when estimating market value
Appraisal Practice (USPAP)
After the ARB has heard evidence from the notify the taxpayer of their decision by written order
protesting party and appraisal district, they
shall determine the protest and...
Equal and uniform taxation is mandated by the Texas Constitution and the Texas Property Tax Code
According to the Texas Property Tax Code, the first day of the next month, providing at least 21 days to pay
a tax bill mailed after January 10, has a
delinquency date of
Business personal property may be tangible or intangible
designate an agent to receive only communications from the chief appraiser, the
A taxpayer may
ARB and represent them in property tax matters
An acre of land contains 43, 560 square feet
Representation of a property owner is Section 1.111
governed by what section of the Texas
Property Tax Code
An easement is an interest in real property transfers use, but not ownership, of the property
An analysis of real property includes highest and best use of the property
Sn important component of the income the capitalization rate
approach is
A step in the cost approach would include a separate valuation of the land, as if vacant
The sales comparison approach is best several sales of similar properties in the same neighborhood or market area
supported by
A method of land surveying that describes metes and bounds
a parcel of land is
When estimating the value of land it is the size and shape of the land
necessary to consider
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An improvement which works and is useful functional utility
is said to have
Market value less total development costs profit (or loss)
equal
Income less operating expenses equals net operating income
A flaw in the construction, materials, or functional obsolescence
design is known as
Ex parte communication between ARB is prohibited
members and the appraisal district
all real and tangible personal property is taxable unless exempted by law
Income producing tangible personal having a value of less than $500 is exempt
property and mineral interests
Property is taxable by a taxing unit if located within their jurisdiction on January 1
By application, the owner of inventory may September 1 instead of January 1
request an alternate assessment date of
All property is taxable unless exempted by Federal law, the Texas Constitution, or the Texas Property Tax Code
Inventory temporarily located in Texas may if it is temporarily located in texas for less than 750 days
qualify for Freeport Exemption
to be eligible for 1-d-1 (open space) use devoted primarily to agricultural use
valuation, land must be
to qualify for an exemption on a single the property must be owner occupied
family residence
market values for tax purposes are the county appraisal district in which the property is located
determined by
the texas property tax code states that an before may 1
application for agricultural use designation
is due
business personal property reports on or before April 15
(renditions) are due
a panel of citizens appointed to resolve disputes between the appraisal district and
The ARB is compromised of
taxpayers
tangible personal property is generally it is located in the taxing unit on January 1 for more than a temporary period
taxable if
if the chief appraiser or the ARB fails to file an appeal in accordance with section 41.11 of the texas property tax code
provide a property owner with a legally
required written notice, the property owner
should
An appointment of Agent form provides for direct mailings of notices and tax bills to a third party representative
an appraisal office, an assessor or collector
to
Section 25.25, Texas Property Tax Code correcting an error in the appraisal records
provides remedies for
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Taptp study questions WITH COMPLETE SOLUTIONS
GRADED A+.
Terms in this set (99)
The Texas Lists the reasons for taxpayer appeals
Property Tax Code, Section 41, provides for
Local Review which?
Property value may be estimated by using sales comparison, income capitalization, and cost approach
The Texas Property Tax Code, Section 42, the right to appeal the Order Determining Protest from the ARB... right to appeal
provides for Judicial Review including order of appraisal review board determining protest by owner
Appraisal review board (ARB) members are Appraisal District
compensated by?
Once a person is appointed to the ARB may be removed only by a majority vote of the appraisal district's board of directors
The ARB has the authority to subpoena witnesses, records and financial documents of a business
Uniform Standards of Professional are required to be used by appraisal districts when estimating market value
Appraisal Practice (USPAP)
After the ARB has heard evidence from the notify the taxpayer of their decision by written order
protesting party and appraisal district, they
shall determine the protest and...
Equal and uniform taxation is mandated by the Texas Constitution and the Texas Property Tax Code
According to the Texas Property Tax Code, the first day of the next month, providing at least 21 days to pay
a tax bill mailed after January 10, has a
delinquency date of
Business personal property may be tangible or intangible
designate an agent to receive only communications from the chief appraiser, the
A taxpayer may
ARB and represent them in property tax matters
An acre of land contains 43, 560 square feet
Representation of a property owner is Section 1.111
governed by what section of the Texas
Property Tax Code
An easement is an interest in real property transfers use, but not ownership, of the property
An analysis of real property includes highest and best use of the property
Sn important component of the income the capitalization rate
approach is
A step in the cost approach would include a separate valuation of the land, as if vacant
The sales comparison approach is best several sales of similar properties in the same neighborhood or market area
supported by
A method of land surveying that describes metes and bounds
a parcel of land is
When estimating the value of land it is the size and shape of the land
necessary to consider
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, 11/4/24, 3:10 PM Taptp study questions Flashcards | Quizlet
An improvement which works and is useful functional utility
is said to have
Market value less total development costs profit (or loss)
equal
Income less operating expenses equals net operating income
A flaw in the construction, materials, or functional obsolescence
design is known as
Ex parte communication between ARB is prohibited
members and the appraisal district
all real and tangible personal property is taxable unless exempted by law
Income producing tangible personal having a value of less than $500 is exempt
property and mineral interests
Property is taxable by a taxing unit if located within their jurisdiction on January 1
By application, the owner of inventory may September 1 instead of January 1
request an alternate assessment date of
All property is taxable unless exempted by Federal law, the Texas Constitution, or the Texas Property Tax Code
Inventory temporarily located in Texas may if it is temporarily located in texas for less than 750 days
qualify for Freeport Exemption
to be eligible for 1-d-1 (open space) use devoted primarily to agricultural use
valuation, land must be
to qualify for an exemption on a single the property must be owner occupied
family residence
market values for tax purposes are the county appraisal district in which the property is located
determined by
the texas property tax code states that an before may 1
application for agricultural use designation
is due
business personal property reports on or before April 15
(renditions) are due
a panel of citizens appointed to resolve disputes between the appraisal district and
The ARB is compromised of
taxpayers
tangible personal property is generally it is located in the taxing unit on January 1 for more than a temporary period
taxable if
if the chief appraiser or the ARB fails to file an appeal in accordance with section 41.11 of the texas property tax code
provide a property owner with a legally
required written notice, the property owner
should
An appointment of Agent form provides for direct mailings of notices and tax bills to a third party representative
an appraisal office, an assessor or collector
to
Section 25.25, Texas Property Tax Code correcting an error in the appraisal records
provides remedies for
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