NJ TAX ASSESSORS EXAM - TERMS AND
CONCEPTS ACTUAL 2026 QUESTIONS AND 100%
CORRECT ANSWERS
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Terms in this set (158)
What are the three basic Discovery, listing, and valuation
requirements of the assessor?
To find effective tax rate multiply the Assessment level
tax rate by ____?
The six basic rights associated with Sell, lease/rent, use, give away, enter or leave,
property are ______? refusal to do any of the above
, What are the three major Real property, personal property, intangible
classifications of property? personal property
List the appraisal principles which Anticipation, balance, change, competition,
form the foundation for highest and conformity, consistent use, contribution, increasing
best use analysis. and decreasing returns, substitution, supply and
demand, surplus productivity
What are the four forces that Physical, economic, governmental, social
influence value?
Highest and best use is always the Highest value
that use that would produce the ______
____ of a property, regardless of its
actual current use.
The four tests for highest and best Legally allowable, physically allowable, financially
use are _____ feasible, maximally productive
List the 7 major steps of the appraisal 1. Definition of the problem,
process. 2. Determination of the scope of the appraisal
3. Preliminary survey and analysis
4. Data collection and analysis
5. Highest and best use analysis
6. Application of the three approaches to value
7. Correlation/reconciliations of indicated values to
derive final estimate of defined value
What are the three approaches to Cost, sales comparison, and income
value used by appraisers to estimate
value?
The land identification system based Metes and bounds
on semi-permanent physical features
or bearings on a compass is known as
____ and ____.
CONCEPTS ACTUAL 2026 QUESTIONS AND 100%
CORRECT ANSWERS
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (158)
What are the three basic Discovery, listing, and valuation
requirements of the assessor?
To find effective tax rate multiply the Assessment level
tax rate by ____?
The six basic rights associated with Sell, lease/rent, use, give away, enter or leave,
property are ______? refusal to do any of the above
, What are the three major Real property, personal property, intangible
classifications of property? personal property
List the appraisal principles which Anticipation, balance, change, competition,
form the foundation for highest and conformity, consistent use, contribution, increasing
best use analysis. and decreasing returns, substitution, supply and
demand, surplus productivity
What are the four forces that Physical, economic, governmental, social
influence value?
Highest and best use is always the Highest value
that use that would produce the ______
____ of a property, regardless of its
actual current use.
The four tests for highest and best Legally allowable, physically allowable, financially
use are _____ feasible, maximally productive
List the 7 major steps of the appraisal 1. Definition of the problem,
process. 2. Determination of the scope of the appraisal
3. Preliminary survey and analysis
4. Data collection and analysis
5. Highest and best use analysis
6. Application of the three approaches to value
7. Correlation/reconciliations of indicated values to
derive final estimate of defined value
What are the three approaches to Cost, sales comparison, and income
value used by appraisers to estimate
value?
The land identification system based Metes and bounds
on semi-permanent physical features
or bearings on a compass is known as
____ and ____.
