NJ Tax Assessors Exam - Terms
and Concepts
Save
Terms in this set (158)
What are the Discovery, listing, and valuation
three basic
requirements of
the assessor?
To find effective Assessment level
tax rate multiply
the tax rate by
____?
,The six basic Sell, lease/rent, use, give away,
rights enter or leave, refusal to do any of
associated with the above
property are
______?
What are the Real property, personal property,
three major intangible personal property
classifications of
property?
List the Anticipation, balance, change,
appraisal competition, conformity, consistent
principles which use, contribution, increasing and
form the decreasing returns, substitution,
foundation for supply and demand, surplus
highest and productivity
best use
analysis.
What are the Physical, economic, governmental,
four forces that social
influence value?
, Highest and Highest value
best use is
always the that
use that would
produce the
______ ____ of a
property,
regardless of its
actual current
use.
The four tests Legally allowable, physically
for highest and allowable, financially feasible,
best use are _____ maximally productive
1. Definition of the problem,
2. Determination of the scope of
the appraisal
3. Preliminary survey and analysis
List the 7 major
4. Data collection and analysis
steps of the
5. Highest and best use analysis
appraisal
6. Application of the three
process.
approaches to value
7. Correlation/reconciliations of
indicated values to derive final
estimate of defined value
and Concepts
Save
Terms in this set (158)
What are the Discovery, listing, and valuation
three basic
requirements of
the assessor?
To find effective Assessment level
tax rate multiply
the tax rate by
____?
,The six basic Sell, lease/rent, use, give away,
rights enter or leave, refusal to do any of
associated with the above
property are
______?
What are the Real property, personal property,
three major intangible personal property
classifications of
property?
List the Anticipation, balance, change,
appraisal competition, conformity, consistent
principles which use, contribution, increasing and
form the decreasing returns, substitution,
foundation for supply and demand, surplus
highest and productivity
best use
analysis.
What are the Physical, economic, governmental,
four forces that social
influence value?
, Highest and Highest value
best use is
always the that
use that would
produce the
______ ____ of a
property,
regardless of its
actual current
use.
The four tests Legally allowable, physically
for highest and allowable, financially feasible,
best use are _____ maximally productive
1. Definition of the problem,
2. Determination of the scope of
the appraisal
3. Preliminary survey and analysis
List the 7 major
4. Data collection and analysis
steps of the
5. Highest and best use analysis
appraisal
6. Application of the three
process.
approaches to value
7. Correlation/reconciliations of
indicated values to derive final
estimate of defined value
