Assessors Exam UPDATED QUESTIONS
AND CORRECT ANSWERS
Assessed Value X Millage Rate=____________ - CORRECT ANSWER Tax Bill
Fair Market X .40= ____________ - CORRECT ANSWER Assessed Value
An acceptable range for the COD when measuring the uniformity of residential property is 0
to _______________? - CORRECT ANSWER .15
The _________ measure that level of assessment for a homogeneous group of properties. -
CORRECT ANSWER median
What are the three approaches to value? - CORRECT ANSWER 1) Market Approach
2) Cost Approach
3) Income Approach
The range for an acceptable median ratio of a sales ratio study is __________ to _________.
- CORRECT ANSWER .36 to .44
What are the three types of depreciation? - CORRECT ANSWER 1) Physical
2) Functional
3) Economic
The PRD measures ______________ within a group of properties. - CORRECT
ANSWER Assessment Bids
Assessed Value/ .40 = - CORRECT ANSWER Fair Market Value
AND CORRECT ANSWERS
Assessed Value X Millage Rate=____________ - CORRECT ANSWER Tax Bill
Fair Market X .40= ____________ - CORRECT ANSWER Assessed Value
An acceptable range for the COD when measuring the uniformity of residential property is 0
to _______________? - CORRECT ANSWER .15
The _________ measure that level of assessment for a homogeneous group of properties. -
CORRECT ANSWER median
What are the three approaches to value? - CORRECT ANSWER 1) Market Approach
2) Cost Approach
3) Income Approach
The range for an acceptable median ratio of a sales ratio study is __________ to _________.
- CORRECT ANSWER .36 to .44
What are the three types of depreciation? - CORRECT ANSWER 1) Physical
2) Functional
3) Economic
The PRD measures ______________ within a group of properties. - CORRECT
ANSWER Assessment Bids
Assessed Value/ .40 = - CORRECT ANSWER Fair Market Value
