Summary IAAO 101 - Review Questions Exam fully
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Practice questions for this set
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Terms in this set (103)
The property tax is an ____ __________ tax, ad valorem
meaning it is based on value.
The assessor is responsible for the discovery
_______, ________, and __________ of all listing
taxable property. valuation
,The taxable location of personal situs
property is referred to as its __________.
An estimate of value, usually in an appraisal
writing, of an adequately described
property, as of a given date, is
termed ___ ___________.
A jurisdiction's tax rate is determined budget
by dividing the _________ to be derived assessed valuation
from property tax by the total _________
____________ of the taxing jurisdiction.
The type of value usually estimated market
by the assessor is __________ value.
The _________ ________ _________ reflects the effective tax rate
ratio between the current tax bill and
the property value.
In order for a property to have value, utility
it must have ______, _______, ________ and scarcity
__________ __________ _________. desirability
effective purchasing power
The use that generates the highest highest and best use
net return to a property over a
reasonable time period is called
________ _______ _________ _________.
The principle of __________ states that balance
maximum value of a neighborhood is
attained when the uses of land are
perfectly complementary.
, Which appraisal principle affirms that Consistent use
land cannot be valued on the basis
of one use while improvements are
valued on the basis of another?
List the four tests that the appraiser Legally permissible
must make in the analysis of the Physically possible
highest and best use. Financially feasible
Most productive
_______ ________ is a parcel of land and Real estate
any structures or improvements that
are permanently affixed thereto.
Property is considered ________ if it can personal
be moved without causing any
damage or change to either the item
of property or the structure to which
it is attached.
Assessment level times the tax rate effective tax rate
equals the _________ ______ ________.
____________ is the point at which the Equilibrium
forces of supply and forces of
demand meet.
List the two types of highest and best A. As if vacant.
use analysis. B. As if improved.
The typical life cycle of a growth
neighborhood includes ________, ________, stability
_______ and ___________. decline
revitalization
solved & updated (latest version verified for
accuracy) | Latest!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (103)
The property tax is an ____ __________ tax, ad valorem
meaning it is based on value.
The assessor is responsible for the discovery
_______, ________, and __________ of all listing
taxable property. valuation
,The taxable location of personal situs
property is referred to as its __________.
An estimate of value, usually in an appraisal
writing, of an adequately described
property, as of a given date, is
termed ___ ___________.
A jurisdiction's tax rate is determined budget
by dividing the _________ to be derived assessed valuation
from property tax by the total _________
____________ of the taxing jurisdiction.
The type of value usually estimated market
by the assessor is __________ value.
The _________ ________ _________ reflects the effective tax rate
ratio between the current tax bill and
the property value.
In order for a property to have value, utility
it must have ______, _______, ________ and scarcity
__________ __________ _________. desirability
effective purchasing power
The use that generates the highest highest and best use
net return to a property over a
reasonable time period is called
________ _______ _________ _________.
The principle of __________ states that balance
maximum value of a neighborhood is
attained when the uses of land are
perfectly complementary.
, Which appraisal principle affirms that Consistent use
land cannot be valued on the basis
of one use while improvements are
valued on the basis of another?
List the four tests that the appraiser Legally permissible
must make in the analysis of the Physically possible
highest and best use. Financially feasible
Most productive
_______ ________ is a parcel of land and Real estate
any structures or improvements that
are permanently affixed thereto.
Property is considered ________ if it can personal
be moved without causing any
damage or change to either the item
of property or the structure to which
it is attached.
Assessment level times the tax rate effective tax rate
equals the _________ ______ ________.
____________ is the point at which the Equilibrium
forces of supply and forces of
demand meet.
List the two types of highest and best A. As if vacant.
use analysis. B. As if improved.
The typical life cycle of a growth
neighborhood includes ________, ________, stability
_______ and ___________. decline
revitalization
