IAAO Workshop 852 AAS Case Study (2022/2023) Rated A+

IAAO Workshop 852 AAS Case Study (2022/2023) Rated A+ 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 take in the discovery of property Ad Valorem The property tax, meaning it is based on value. Budget Divided by the assessed value equals the tax rate Effective tax rate Assessment level times the tax rate equals the Real property Land and everything permanently attached to it Eminent domain Is a government restriction to the bundle of rights To use, to lease or rent, to enter or leave Basic rights associated with the ownership of property Equilibrium The point at which the forces of supply and demand meet Fee simple ownership of all the rights of property, except those reserved by the government General data, specific data, comparative data In the appraisal process, data collection requires the assessor to collect Neighborhood An area of complementary land uses in which all properties are similarly influenced by the 4 forces affecting value. Consumer expectations Element of the marketplace that is likely to contribute to a change in demand Entrepreneur expectations Element of the marketplace that is likely to contribute to a change in supply Market area The primary sort in analyzing land sales in stratification Stratification The 1st step in analyzing land sales Change The principle that market value is determined by such factors as zoning, rent controls, interest rates, etc. Front foot unit would be good to use when pedestrian access is important ANTICIPATED USE OR DEVELOPMENT METHOD Land valuation method that replicates the actions of subdividers or developers Replacement cost Cost of producing a building having same utility but using modern materials, design, and workmanship Principle of contribution Underlying principle in the adjust