Exam (elaborations)
IAAO 101 – Review/ 103 Questions and Answers; A+ GUARANTEED.
- Course
- Institution
IAAO 101 – Review/ 103 Questions and Answers; A+ GUARANTEED.
[Show more]
Seller
Follow
NurseSallyD
Reviews received
Content preview
IAAO 101 – Review/ 103 Questions andAnswers; A+ GUARANTEED.
The property tax is an ____ __________ tax, meaning it is based on
value. - -ad valorem
-The assessor is responsible for the _______, ________, and
__________ of all taxable property. - -discovery
listing
valuation
-The taxable location of personal property is referred to as its
__________. - -situs
-An estimate of value, usually in writing, of an adequately
described property, as of a given date, is termed ___ ___________. -
-an appraisal
-A jurisdiction's tax rate is determined by dividing the _________ to
be derived from property tax by the total _________ ____________ of
the taxing jurisdiction. - -budget
assessed valuation
-The type of value usually estimated by the assessor is __________
value. - -market
, -The _________ ________ _________ reflects the ratio between the
current tax bill and the property value. - -effective tax rate
-In order for a property to have value, it must have ______,
_______, ________ and __________ __________ _________. - -utility
scarcity
desirability
effective purchasing power
-The use that generates the highest net return to a property over
a reasonable time period is called ________ _______ _________
_________. - -highest and best use
-The principle of __________ states that maximum value of a
neighborhood is attained when the uses of land are perfectly
complementary. - -balance
-Which appraisal principle affirms that land cannot be valued on
the basis of one use while improvements are valued on the basis
of another? - -Consistent use
-List the four tests that the appraiser must make in the analysis
of the highest and best use. - -Legally permissible
Physically possible
Financially feasible
Most productive
, -_______ ________ is a parcel of land and any structures or
improvements that are permanently affixed thereto. - -Real
estate
-Property is considered ________ 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. - -personal
-Assessment level times the tax rate equals the _________ ______
________. - -effective tax rate
-____________ is the point at which the forces of supply and forces
of demand meet. - -Equilibrium
-List the two types of highest and best use analysis. - -A. As if
vacant.
B. As if improved.
-The typical life cycle of a neighborhood includes ________,
________, _______ and ___________. - -growth
stability
decline
revitalization
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseSallyD. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now