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IAAO COURSE EXAMS PACKAGE DEAL|DOWNLOA TO PASS
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[Mostrar más]ad valorem 
According to Value 
 
 
 
The basic responsibilities of an Appraiser to all taxable property. 
1. Discovery 
2. Listing 
3. Valuation 
 
 
 
The taxable location of personal property is referred to as its' 
Situs 
 
 
 
The type of value usually estimated by an Appraiser is the 
Market ...
Vista previa 3 fuera de 16 páginas
Añadir al carritoad valorem 
According to Value 
 
 
 
The basic responsibilities of an Appraiser to all taxable property. 
1. Discovery 
2. Listing 
3. Valuation 
 
 
 
The taxable location of personal property is referred to as its' 
Situs 
 
 
 
The type of value usually estimated by an Appraiser is the 
Market ...
Vista previa 3 fuera de 22 páginas
Añadir al carritoiaao 101 with 100% correct answers
Assessor 
The government official responsible for administrating the property tax system and for Establishing value for ad valorem tax purposes 
 
 
 
Requirements of the assessor 
Discovery , listing and valuation 
 
 
 
Discovery 
Location of all taxable property 
 
 
 
Listing 
Creating an invent...
Vista previa 3 fuera de 22 páginas
Añadir al carritoAssessor 
The government official responsible for administrating the property tax system and for Establishing value for ad valorem tax purposes 
 
 
 
Requirements of the assessor 
Discovery , listing and valuation 
 
 
 
Discovery 
Location of all taxable property 
 
 
 
Listing 
Creating an invent...
Scope of Work Rule 
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 
When it meets or exceeds: 
1. Expectations of parties who are regular...
Vista previa 3 fuera de 30 páginas
Añadir al carritoScope of Work Rule 
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 
When it meets or exceeds: 
1. Expectations of parties who are regular...
The Economic Principle of Anticipation 
states that value is created by the expectation of benefits to be derived in the future. 
 
 
 
The Economic Principle of Substitution 
states that a property's maximum value tends to be set by the lowest cost or price at which another property of equivalent ...
Vista previa 2 fuera de 7 páginas
Añadir al carritoThe Economic Principle of Anticipation 
states that value is created by the expectation of benefits to be derived in the future. 
 
 
 
The Economic Principle of Substitution 
states that a property's maximum value tends to be set by the lowest cost or price at which another property of equivalent ...
Capitalization process 
The value of an income-producing property estimated by converting anticipated benefits arising from the ownership of the income producing property. 
 
 
 
Anticipation 
Principle where value is created by the expectation of benefits to be derived in the future. 
 
 
 
Change ...
Vista previa 2 fuera de 14 páginas
Añadir al carritoCapitalization process 
The value of an income-producing property estimated by converting anticipated benefits arising from the ownership of the income producing property. 
 
 
 
Anticipation 
Principle where value is created by the expectation of benefits to be derived in the future. 
 
 
 
Change ...
Land 
An immovable and indestructible three-dimensional area consisting of a portion of the earth's surface, the space above and below the surface, and everything growing on or permanently affixed to it. 
 
 
 
Five Attributes of Land 
"PUFFS" 
Permanent 
Unique 
Finite Supply 
Functional 
Statio...
Vista previa 3 fuera de 17 páginas
Añadir al carritoLand 
An immovable and indestructible three-dimensional area consisting of a portion of the earth's surface, the space above and below the surface, and everything growing on or permanently affixed to it. 
 
 
 
Five Attributes of Land 
"PUFFS" 
Permanent 
Unique 
Finite Supply 
Functional 
Statio...
Planning should begin with? 
Analysis of current situation 
 
 
 
Highest and best use can be constrained by? 
Zoning 
 
 
 
What range should subjective data be in? 
at least 90% 
 
 
 
Which model structure are variables interactive? 
multiplicative 
 
 
 
Which model structure is adept at calibra...
Vista previa 2 fuera de 15 páginas
Añadir al carritoPlanning should begin with? 
Analysis of current situation 
 
 
 
Highest and best use can be constrained by? 
Zoning 
 
 
 
What range should subjective data be in? 
at least 90% 
 
 
 
Which model structure are variables interactive? 
multiplicative 
 
 
 
Which model structure is adept at calibra...
Leverage 
The borrowing of funds in hopes of earning a greater return than the cost of the borrowed funds 
 
 
 
list, value, discover 
The basic responsibilities of the assessor for all taxable property. 
 
 
 
Conduct periodic on-site inspection of properties 
One of the steps an assessor must tak...
Vista previa 4 fuera de 51 páginas
Añadir al carritoLeverage 
The borrowing of funds in hopes of earning a greater return than the cost of the borrowed funds 
 
 
 
list, value, discover 
The basic responsibilities of the assessor for all taxable property. 
 
 
 
Conduct periodic on-site inspection of properties 
One of the steps an assessor must tak...
Artificial neural networks (ANN) 
an alternative to MRA for calibrating mass appraisal models 
 
 
 
sale price 
not a suitable independent variable for a residential sales comparison model 
 
 
 
statistical software packages 
provide the greatest modeling features and flexibility 
 
 
 
slope func...
Vista previa 2 fuera de 9 páginas
Añadir al carritoArtificial neural networks (ANN) 
an alternative to MRA for calibrating mass appraisal models 
 
 
 
sale price 
not a suitable independent variable for a residential sales comparison model 
 
 
 
statistical software packages 
provide the greatest modeling features and flexibility 
 
 
 
slope func...
In the form of government known as _____________, power is divided between central and regional governments. 
Federalism 
 
 
 
______________ is the cultural concept related to legal relationships about things that can be possessed. 
Property 
 
 
 
The main difference between taxes and fees is tha...
Vista previa 4 fuera de 52 páginas
Añadir al carritoIn the form of government known as _____________, power is divided between central and regional governments. 
Federalism 
 
 
 
______________ is the cultural concept related to legal relationships about things that can be possessed. 
Property 
 
 
 
The main difference between taxes and fees is tha...
Anticipation 
Value is created by the expectation of benefits to be derived in the future 
 
 
 
Substitution 
the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. 
 
 
 
Contribution 
the va...
Vista previa 2 fuera de 9 páginas
Añadir al carritoAnticipation 
Value is created by the expectation of benefits to be derived in the future 
 
 
 
Substitution 
the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. 
 
 
 
Contribution 
the va...
Income & Expense Statement 
Gross Income/PGI 
- Vacancy & collection losses 
+ Misc income 
______________________ 
EGI 
- Allowed expenses 
______________________ 
NOI 
 
 
 
Recapture Rate 
1/REL (remaining economic life) 
 
 
 
Building & Land Rate 
Discount + ETR + Recapture = Building (Imp) rat...
Vista previa 1 fuera de 3 páginas
Añadir al carritoIncome & Expense Statement 
Gross Income/PGI 
- Vacancy & collection losses 
+ Misc income 
______________________ 
EGI 
- Allowed expenses 
______________________ 
NOI 
 
 
 
Recapture Rate 
1/REL (remaining economic life) 
 
 
 
Building & Land Rate 
Discount + ETR + Recapture = Building (Imp) rat...
Rate times Value 
Income equals 
 
 
 
The basis for the Income Approach 
Anticipation 
 
 
 
Income divided by Value 
Rate equals 
 
 
 
Income divided by Rate 
Value equals 
 
 
 
One of the three approaches to value in which the appraiser derives a value indication by converting anticipated benef...
Vista previa 1 fuera de 4 páginas
Añadir al carritoRate times Value 
Income equals 
 
 
 
The basis for the Income Approach 
Anticipation 
 
 
 
Income divided by Value 
Rate equals 
 
 
 
Income divided by Rate 
Value equals 
 
 
 
One of the three approaches to value in which the appraiser derives a value indication by converting anticipated benef...
Capitalization is the process used to: 
convert income into an estimate of value 
 
 
 
fixed-rate mortgage 
A loan secured by real property featuring an interest rate that is constant for the term of the loan is referred to as a (an): 
 
 
 
anticipation 
The underlying principle providing the basi...
Vista previa 2 fuera de 8 páginas
Añadir al carritoCapitalization is the process used to: 
convert income into an estimate of value 
 
 
 
fixed-rate mortgage 
A loan secured by real property featuring an interest rate that is constant for the term of the loan is referred to as a (an): 
 
 
 
anticipation 
The underlying principle providing the basi...
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