TEXAS SENIOR PROPERTY TAX
CONSULTANT EXAM
1.Economic Forces:
A consumer's ability to purchase and use real estate. Exam- ples are;
Income Levels, Employment, Housing Construction Costs, Credit
Availabil- ity, Interest Rates and Utility Costs
2.Social Forces:
Relate to trends in society or culture. Sometimes imagined, some- times
based on actual facts or figures. Include: Population Trends, Family
Com- position, Aging of Americas Population, Evolution of Home Offices,
Environmental Consciousness, Leisure Time, and The family and
functional utility.
3.Governmental Forces:
Maybe on national, state or local level and include: Taxes, Federal
monetary policy, Real Estate taxes and assessments, Labor issues,
Quality of Schools, Quality of Services.
4.Environmental / Physical Forces:
,Easy to identify, the desirability of these factors depend upon the
property use type. They include: Location, Transportation, Topography,
and Climate/weather.
5.General Warranty:
A title transfer that offers a guarantee of the title from the seller to the
buyer.
6.Leasehold Estate:
A tenant or lessee may most likely possess this type of interest.
7.Manner of Attachment:
Used in determining when personal property becomes a fixture.
8.Real Property:
An intangible interest in real estate.
9.Real Estate:
The tangible bricks and mortar and land.
,10.Police Power:
Building Codes and zoning represent this power of government.
11.Private Restrictions:
A lease and mortgage
12.Encroachment:
A toolshed that is partly on a neighbor's lot
13.Severalty:
The most common form of ownership. Means one (Individual) - One
person or corporation owns entire bundle of rights
14.A type of special ownership:
Condominium
15.A leased fee estate is an interest controlled by the:
Landlord
, 16.A leasehold estate is created by a?:
Lease
17.The most common value estimate provided in an appraisal of a single-
fam- ily home.:
Market Value
18.Which type of appraisal would likely be sought in the appraisal of
an established business operation?:
Going Concern Value
19. Which valuation would be based on a limited marketing period?:
Liquidation Value
20.Which value provides the basis of the real estate tax liability for a
proper- ty?:
Assessed Value
21.What is the value to a specific occupant?:
Value in use
CONSULTANT EXAM
1.Economic Forces:
A consumer's ability to purchase and use real estate. Exam- ples are;
Income Levels, Employment, Housing Construction Costs, Credit
Availabil- ity, Interest Rates and Utility Costs
2.Social Forces:
Relate to trends in society or culture. Sometimes imagined, some- times
based on actual facts or figures. Include: Population Trends, Family
Com- position, Aging of Americas Population, Evolution of Home Offices,
Environmental Consciousness, Leisure Time, and The family and
functional utility.
3.Governmental Forces:
Maybe on national, state or local level and include: Taxes, Federal
monetary policy, Real Estate taxes and assessments, Labor issues,
Quality of Schools, Quality of Services.
4.Environmental / Physical Forces:
,Easy to identify, the desirability of these factors depend upon the
property use type. They include: Location, Transportation, Topography,
and Climate/weather.
5.General Warranty:
A title transfer that offers a guarantee of the title from the seller to the
buyer.
6.Leasehold Estate:
A tenant or lessee may most likely possess this type of interest.
7.Manner of Attachment:
Used in determining when personal property becomes a fixture.
8.Real Property:
An intangible interest in real estate.
9.Real Estate:
The tangible bricks and mortar and land.
,10.Police Power:
Building Codes and zoning represent this power of government.
11.Private Restrictions:
A lease and mortgage
12.Encroachment:
A toolshed that is partly on a neighbor's lot
13.Severalty:
The most common form of ownership. Means one (Individual) - One
person or corporation owns entire bundle of rights
14.A type of special ownership:
Condominium
15.A leased fee estate is an interest controlled by the:
Landlord
, 16.A leasehold estate is created by a?:
Lease
17.The most common value estimate provided in an appraisal of a single-
fam- ily home.:
Market Value
18.Which type of appraisal would likely be sought in the appraisal of
an established business operation?:
Going Concern Value
19. Which valuation would be based on a limited marketing period?:
Liquidation Value
20.Which value provides the basis of the real estate tax liability for a
proper- ty?:
Assessed Value
21.What is the value to a specific occupant?:
Value in use
