Summary IAAO 101 - Review Questions Exam fully solved
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Money and Banking Final Exam Perry Real Estate Exam 100 Questio... ECON 110 FINAL BYU GR
Teacher 159 terms Teacher 100 terms Teacher 25 terms Te
Annabell2402 Preview pinkypromisey Preview Ramonamaia25 Preview
Practice questions for this set
Learn 1 /7 Study with Learn
External
Choose an answer
1 The property tax is an ____ __________ tax, meaning it is based on value.
_______ ________ is a parcel of land and any structures or improvements that are permanently affixed
2
thereto.
___________ obsolescence is a loss in value resulting from a decrease in utility and desirability caused by
3
factors outside the property's boundaries.
A jurisdiction's tax rate is determined by dividing the _________ to be derived from property tax by the
4
total _________ ____________ of the taxing jurisdiction.
Don't know?
Terms in this set (103)
The property tax is an ____ __________ tax, meaning it is ad valorem
based on value.
, The assessor is responsible for the _______, ________, and discovery
__________ of all taxable property. listing
valuation
The taxable location of personal property is referred to situs
as its __________.
An estimate of value, usually in writing, of an an appraisal
adequately described property, as of a given date, is
termed ___ ___________.
A jurisdiction's tax rate is determined by dividing the budget
_________ to be derived from property tax by the total assessed valuation
_________ ____________ of the taxing jurisdiction.
The type of value usually estimated by the assessor is market
__________ value.
The _________ ________ _________ reflects the ratio between the effective tax rate
current tax bill and the property value.
In order for a property to have value, it must have ______, utility
_______, ________ and __________ __________ _________. scarcity
desirability
effective purchasing power
The use that generates the highest net return to a highest and best use
property over a reasonable time period is called ________
_______ _________ _________.
The principle of __________ states that maximum value of a balance
neighborhood is attained when the uses of land are
perfectly complementary.
Which appraisal principle affirms that land cannot be Consistent use
valued on the basis of one use while improvements are
valued on the basis of another?
List the four tests that the appraiser must make in the Legally permissible
analysis of the highest and best use. Physically possible
Financially feasible
Most productive
_______ ________ is a parcel of land and any structures or Real estate
improvements that are permanently affixed thereto.
Property is considered ________ if it can be moved without personal
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 equals the _________ effective tax rate
______ ________.
& updated (latest version verified for accuracy) | Latest!!
Leave the first rating
Save
Students also studied
Money and Banking Final Exam Perry Real Estate Exam 100 Questio... ECON 110 FINAL BYU GR
Teacher 159 terms Teacher 100 terms Teacher 25 terms Te
Annabell2402 Preview pinkypromisey Preview Ramonamaia25 Preview
Practice questions for this set
Learn 1 /7 Study with Learn
External
Choose an answer
1 The property tax is an ____ __________ tax, meaning it is based on value.
_______ ________ is a parcel of land and any structures or improvements that are permanently affixed
2
thereto.
___________ obsolescence is a loss in value resulting from a decrease in utility and desirability caused by
3
factors outside the property's boundaries.
A jurisdiction's tax rate is determined by dividing the _________ to be derived from property tax by the
4
total _________ ____________ of the taxing jurisdiction.
Don't know?
Terms in this set (103)
The property tax is an ____ __________ tax, meaning it is ad valorem
based on value.
, The assessor is responsible for the _______, ________, and discovery
__________ of all taxable property. listing
valuation
The taxable location of personal property is referred to situs
as its __________.
An estimate of value, usually in writing, of an an appraisal
adequately described property, as of a given date, is
termed ___ ___________.
A jurisdiction's tax rate is determined by dividing the budget
_________ to be derived from property tax by the total assessed valuation
_________ ____________ of the taxing jurisdiction.
The type of value usually estimated by the assessor is market
__________ value.
The _________ ________ _________ reflects the ratio between the effective tax rate
current tax bill and the property value.
In order for a property to have value, it must have ______, utility
_______, ________ and __________ __________ _________. scarcity
desirability
effective purchasing power
The use that generates the highest net return to a highest and best use
property over a reasonable time period is called ________
_______ _________ _________.
The principle of __________ states that maximum value of a balance
neighborhood is attained when the uses of land are
perfectly complementary.
Which appraisal principle affirms that land cannot be Consistent use
valued on the basis of one use while improvements are
valued on the basis of another?
List the four tests that the appraiser must make in the Legally permissible
analysis of the highest and best use. Physically possible
Financially feasible
Most productive
_______ ________ is a parcel of land and any structures or Real estate
improvements that are permanently affixed thereto.
Property is considered ________ if it can be moved without personal
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 equals the _________ effective tax rate
______ ________.
