Exam (elaborations)
The basic responsibilities of an Appraiser to all taxable property.
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Exam of 11 pages for the course ACTION CPT at ACTION CPT (ad valorem)
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Elscores 8/18/2024 6:16:34 PMad valorem
~: According to Value
The basic responsibilities of an Appraiser to all taxable property.
~: 1. Discovery
2. Listing
3. Valuation
The taxable location of personal property is referred to as its'
~: Situs
The type of value usually estimated by an Appraiser is the
~: Market Value
The effective tax rate reflects the ratio between what
~: The current tax bill and the property value
Assessment level times the tax rate equals
~: The effective tax rate
_________ divided by the assessed value equals the tax rate.
~: Budget
_________ is the physical land and everything permanently attached to it.
, Elscores 8/18/2024 6:16:34 PM
~: Real Estate
Property tax is an _________.
~: ad valorem tax
How do you calculate the Assessment Ratio of a property?
~: Assessed Value ÷ Market Value
How do you calculate the Tax rate (%) ?
~: Budgeted Revenue (Minus any other revenue sources) ÷ Total Assessed Value of all property
How do you calculate the Property Tax bill?
~: Tax rate X Assessed value of Property
Fractional Assessment
~: An assessed value not statutorily at 100% of market value
The six basic rights associated with property are:
~: SLUGER
1. Sell
2. Lease
3. Use
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