IAAO Study guides, Class notes & Summaries

IAAO 400 2023 Exam Questions with Complete Solutions A property assessment system organizes resources to carry out the primary assessment responsibilities of , , and properties, in accordance with property tax laws and regulations. - ANSWER Discovery, Listing, and Valuing Name the 14 Attributes of an Effective Assessment System - ANSWER Legal, Ratio Studies, Adequate Budget, Competent Staff/Effective Training Program, Effective Internal Controls, Organizational Plan, Sta...

IAAO Course 300 2023 Exam Questions with All Complete Solutions Mass appraisal - ANSWER Systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing. Purpose of mass appraisal - ANSWER Equitable and efficient appraisal of all property in a jurisdiction for ad valorem tax purposes. When did first generation computers emerge? - ANSWER The 1950s Mass appraisal models may be: - ANSWER Physical...

IAAO Course 300 Exam Questions with All Complete Solutions Scope of Work Rule - ANSWER 1. Identify the problem to be solved 2. Determine and perform the scope of work necessary to develop credible assignment results 3. Disclose the scope of work in the report Scope of work acceptability - ANSWER When it meets or exceeds: 1. Expectations of parties who are regularly intended users for similar assignments and 2. What an Appraiser's peers actions would be in performing the sam...

IAAO 101 2023 Test Questions with Complete Solutions The basic responsibilities of an Appraiser to all taxable property. - ANSWER 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - ANSWER Situs The type of value usually estimated by an Appraiser is the - ANSWER Market Value The effective tax rate reflects the ratio between what - ANSWER The current tax bill and the property value Assessm...

Tax Rate (def.) - Answer- Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) - Answer- Tax revenue (amount) / Assessed value Property Tax (formula) - Answer- Subject assessed value / Tax rate Budget Revenue (formula) - Answer- Total budget - Other taxes Effective Tax Rate (def.) - Answer- Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rate (formula) - Answer- Ass...

IAAO COURSE 300 EXAM STUDY SOLUTION GRADED A+

IAAO 400 EXAM REVIEW SOLUTION GRADED A+

IAAO 101 EXAM QUIZ AND SOLUTIONS GRADED A+

IAAO 500 -EXAM REVIEW SOLUTION GRADED A+