10/24/25, 8:14 AM IAAO 101 - Review Questions Exam fully solved & updated 2025-2026(latest version verified for accuracy) | 2024\2025Latest!! Fla…
IAAO 101 - Review Questions Exam fully solved &
updated 2025-2026(latest version verified for
accuracy) | 2024\2025Latest!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (103)
The property tax is an ____ ad valorem
__________ tax, meaning it is
based on value.
The assessor is discovery
responsible for the _______, listing
________, and __________ of all valuation
taxable property.
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,10/24/25, 8:14 AM IAAO 101 - Review Questions Exam fully solved & updated 2025-2026(latest version verified for accuracy) | 2024\2025Latest!! Fla…
The taxable location of situs
personal property is
referred to as its __________.
An estimate of value, an appraisal
usually in writing, of an
adequately described
property, as of a given
date, is termed ___ ___________.
A jurisdiction's tax rate is budget
determined by dividing assessed valuation
the _________ to be derived
from property tax by the
total _________ ____________ of
the taxing jurisdiction.
The type of value usually market
estimated by the assessor
is __________ value.
The _________ ________ _________ effective tax rate
reflects the ratio between
the current tax bill and the
property value.
In order for a property to utility
have value, it must have scarcity
______, _______, ________ and desirability
__________ __________ _________. effective purchasing power
The use that generates the highest and best use
highest net return to a
property over a
reasonable time period is
called ________ _______ _________
_________.
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The principle of __________ balance
states that maximum value
of a neighborhood is
attained when the uses of
land are perfectly
complementary.
Which appraisal principle Consistent use
affirms that land cannot
be valued on the basis of
one use while
improvements are valued
on the basis of another?
List the four tests that the Legally permissible
appraiser must make in the Physically possible
analysis of the highest and Financially feasible
best use. Most productive
_______ ________ is a parcel of Real estate
land and any structures or
improvements that are
permanently affixed
thereto.
Property is considered personal
________ if it can be moved
without causing any
damage or change to
either the item of property
or the structure to which it
is attached.
Assessment level times the effective tax rate
tax rate equals the _________
______ ________.
https://quizlet.com/1097854404/iaao-101-review-questions-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-20242025latest-… 3/19
IAAO 101 - Review Questions Exam fully solved &
updated 2025-2026(latest version verified for
accuracy) | 2024\2025Latest!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (103)
The property tax is an ____ ad valorem
__________ tax, meaning it is
based on value.
The assessor is discovery
responsible for the _______, listing
________, and __________ of all valuation
taxable property.
https://quizlet.com/1097854404/iaao-101-review-questions-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-20242025latest-… 1/19
,10/24/25, 8:14 AM IAAO 101 - Review Questions Exam fully solved & updated 2025-2026(latest version verified for accuracy) | 2024\2025Latest!! Fla…
The taxable location of situs
personal property is
referred to as its __________.
An estimate of value, an appraisal
usually in writing, of an
adequately described
property, as of a given
date, is termed ___ ___________.
A jurisdiction's tax rate is budget
determined by dividing assessed valuation
the _________ to be derived
from property tax by the
total _________ ____________ of
the taxing jurisdiction.
The type of value usually market
estimated by the assessor
is __________ value.
The _________ ________ _________ effective tax rate
reflects the ratio between
the current tax bill and the
property value.
In order for a property to utility
have value, it must have scarcity
______, _______, ________ and desirability
__________ __________ _________. effective purchasing power
The use that generates the highest and best use
highest net return to a
property over a
reasonable time period is
called ________ _______ _________
_________.
https://quizlet.com/1097854404/iaao-101-review-questions-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-20242025latest-… 2/19
, 10/24/25, 8:14 AM IAAO 101 - Review Questions Exam fully solved & updated 2025-2026(latest version verified for accuracy) | 2024\2025Latest!! Fla…
The principle of __________ balance
states that maximum value
of a neighborhood is
attained when the uses of
land are perfectly
complementary.
Which appraisal principle Consistent use
affirms that land cannot
be valued on the basis of
one use while
improvements are valued
on the basis of another?
List the four tests that the Legally permissible
appraiser must make in the Physically possible
analysis of the highest and Financially feasible
best use. Most productive
_______ ________ is a parcel of Real estate
land and any structures or
improvements that are
permanently affixed
thereto.
Property is considered personal
________ if it can be moved
without causing any
damage or change to
either the item of property
or the structure to which it
is attached.
Assessment level times the effective tax rate
tax rate equals the _________
______ ________.
https://quizlet.com/1097854404/iaao-101-review-questions-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-20242025latest-… 3/19
