RPA Questions and Answers Latest Updated 2022 Rated A

RPA Questions and Answers Latest Updated 2022 Rated A appraisal Estimate of the value or monetary worth of an item of property as of a particular date USPAP Uniform Standards of Professional Appraisal Practice USPAP Appraisers follow Appraisal Standards Board Part of the appraisal foundation that develops, publishes, interprets, and amends the standards of uspap on behalf of appraisers and the users of appraisal services USPAP standard 6 Mass development and reporting Scope of Work Type and extent of research and analysis in an appraisal or appraisal review assignment Work file documentation necessary to support an appraiser's analyses, opinions, and conclusions Signed certification Uspap compliant appraisal report must contain a signed certification Appraisal Practice Valuation services performed by an individual acting as an appraiser, including but not limited to appraisal and appraisal review. Appraiser One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. Mass appraisal the process of valuing a universe of properties as of a given date using standard methodology, employing common data, and allowing for statistical testing Mass Appraisal Model A mathematical expression of how supply and demand factors interact in a market. RPA Registered professional appraiser , 5 years to get, can get in 3 RTA Registered texas assessor / collector RTC Registered Texas collector Under tdlr Registrants must be guided by the principle that property taxation should be fair and uniform and apply all laws, rules, methods and procedures in a uniform manner to all taxpayers Code of ethis under tdlr Not accept or solicit any gift, favor or service that might reasonably tend to influence the registrant in the discharge of official duties Appearance of Impropriety Expectation of a lower value appraisal district is a Independent political subdivision Appraisal Review Board Approves arb orders by majority vote Taxing unit rolls must be approved by Taxing unit governing body Who must approve opitionql local tax exemptions Taxing unit governing body Exemption determines Taxable value Taxing unit collects less than its levy , then the unit must first meet Debt obligations under normal circumstances the state comptroller property tax assistance division conducts a property value study or a cad and its schools districts Biennially Arb challenge What a taxing unit files to have a hearing( have to file within 15 days after records are submitted to arb) Market Value The price at which a property would transfer, for cash or it's equivalent, under prevailing market conditions rendition Statement listing taxable property and the name and address of the owner. This statement may contain an owners estimate of the property