Taptp study questions
The Texas
Property Tax Code, Section 41, provides for Local Review which? - answer Lists the
reasons for taxpayer appeals
Property value may be estimated by using - answer sales comparison, income
capitalization, and cost approach
The Texas Property Tax Code, Section 42, provides for Judicial Review including -
answerthe right to appeal the Order Determining Protest from the ARB... right to appeal
order of appraisal review board determining protest by owner
Appraisal review board (ARB) members are compensated by? - answer Appraisal
District
Once a person is appointed to the ARB - answermay be removed only by a majority
vote of the appraisal district's board of directors
The ARB has the authority to - answersubpoena witnesses, records and financial
documents of a business
Uniform Standards of Professional Appraisal Practice (USPAP) - answerare required to
be used by appraisal districts when estimating market value
After the ARB has heard evidence from the protesting party and appraisal district, they
shall determine the protest and... - answernotify the taxpayer of their decision by written
order
Equal and uniform taxation is mandated by - answerthe Texas Constitution and the
Texas Property Tax Code
According to the Texas Property Tax Code, a tax bill mailed after January 10, has a
delinquency date of - answerthe first day of the next month, providing at least 21 days to
pay
Business personal property - answermay be tangible or intangible
A taxpayer may - answerdesignate an agent to receive only communications from the
chief appraiser, the ARB and represent them in property tax matters
An acre of land contains - answer43, 560 square feet
, Representation of a property owner is governed by what section of the Texas Property
Tax Code - answerSection 1.111
An easement is an interest in real property - answertransfers use, but not ownership, of
the property
An analysis of real property includes - answerhighest and best use of the property
Sn important component of the income approach is - answerthe capitalization rate
A step in the cost approach would include - answera separate valuation of the land, as if
vacant
The sales comparison approach is best supported by - answerseveral sales of similar
properties in the same neighborhood or market area
A method of land surveying that describes a parcel of land is - answermetes and
bounds
When estimating the value of land it is necessary to consider - answerthe size and
shape of the land
An improvement which works and is useful is said to have - answerfunctional utility
Market value less total development costs equal - answerprofit (or loss)
Income less operating expenses equals - answernet operating income
A flaw in the construction, materials, or design is known as - answerfunctional
obsolescence
Ex parte communication between ARB members and the appraisal district - answeris
prohibited
all real and tangible personal property is - answertaxable unless exempted by law
Income producing tangible personal property and mineral interests - answerhaving a
value of less than $500 is exempt
Property is taxable by a taxing unit - answerif located within their jurisdiction on January
1
By application, the owner of inventory may request an alternate assessment date of -
answerSeptember 1 instead of January 1
The Texas
Property Tax Code, Section 41, provides for Local Review which? - answer Lists the
reasons for taxpayer appeals
Property value may be estimated by using - answer sales comparison, income
capitalization, and cost approach
The Texas Property Tax Code, Section 42, provides for Judicial Review including -
answerthe right to appeal the Order Determining Protest from the ARB... right to appeal
order of appraisal review board determining protest by owner
Appraisal review board (ARB) members are compensated by? - answer Appraisal
District
Once a person is appointed to the ARB - answermay be removed only by a majority
vote of the appraisal district's board of directors
The ARB has the authority to - answersubpoena witnesses, records and financial
documents of a business
Uniform Standards of Professional Appraisal Practice (USPAP) - answerare required to
be used by appraisal districts when estimating market value
After the ARB has heard evidence from the protesting party and appraisal district, they
shall determine the protest and... - answernotify the taxpayer of their decision by written
order
Equal and uniform taxation is mandated by - answerthe Texas Constitution and the
Texas Property Tax Code
According to the Texas Property Tax Code, a tax bill mailed after January 10, has a
delinquency date of - answerthe first day of the next month, providing at least 21 days to
pay
Business personal property - answermay be tangible or intangible
A taxpayer may - answerdesignate an agent to receive only communications from the
chief appraiser, the ARB and represent them in property tax matters
An acre of land contains - answer43, 560 square feet
, Representation of a property owner is governed by what section of the Texas Property
Tax Code - answerSection 1.111
An easement is an interest in real property - answertransfers use, but not ownership, of
the property
An analysis of real property includes - answerhighest and best use of the property
Sn important component of the income approach is - answerthe capitalization rate
A step in the cost approach would include - answera separate valuation of the land, as if
vacant
The sales comparison approach is best supported by - answerseveral sales of similar
properties in the same neighborhood or market area
A method of land surveying that describes a parcel of land is - answermetes and
bounds
When estimating the value of land it is necessary to consider - answerthe size and
shape of the land
An improvement which works and is useful is said to have - answerfunctional utility
Market value less total development costs equal - answerprofit (or loss)
Income less operating expenses equals - answernet operating income
A flaw in the construction, materials, or design is known as - answerfunctional
obsolescence
Ex parte communication between ARB members and the appraisal district - answeris
prohibited
all real and tangible personal property is - answertaxable unless exempted by law
Income producing tangible personal property and mineral interests - answerhaving a
value of less than $500 is exempt
Property is taxable by a taxing unit - answerif located within their jurisdiction on January
1
By application, the owner of inventory may request an alternate assessment date of -
answerSeptember 1 instead of January 1
