iaao 101 Exam Questions with correct Answers

ad valorem - answer-According to Value 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 Assessment level times the tax rate equals - answer-The effective tax rate _________ divided by the assessed value equals the tax rate. - answer-Budget _________ is the physical land and everything permanently attached to it. - answer-Real Estate Property tax is an _________. - answer-ad valorem tax How do you calculate the Assessment Ratio of a property? - answer-Assessed Value ÷ Market Value