IAAO Workshop 852 AAS Case Study;
Questions & Answers 100 Solved
Leverage The borrowing of funds in hopes of earning a greater return than
the cost of the
borrowed funds
list, value, discover The basic responsibilities of the assessor for all taxable
property.
Conduct periodic on-site ins...
IAAO Workshop 852 AAS Case Study;
Questions & Answers 100 Solved
Leverage ✔✔The borrowing of funds in hopes of earning a greater return than
the cost of the
borrowed funds
list, value, discover ✔✔The basic responsibilities of the assessor for all taxable
property.
Conduct periodic on-site inspection of properties ✔✔One of the steps an
assessor must take in
the discovery of property
Ad Valorem ✔✔The property tax, meaning it is based on value.
Budget ✔✔Divided by the assessed value equals the tax rate
Effective tax rate ✔✔Assessment level times the tax rate equals the
Real property ✔✔Land and everything permanently attached to it
Eminent domain ✔✔Is a government restriction to the bundle of rights
To use, to lease or rent, to enter or leave ✔✔Basic rights associated with the
ownership of
property
Equilibrium ✔✔The point at which the forces of supply and demand meet
, IAAO Workshop 852 AAS Case Study;
Questions & Answers 100 Solved
Fee simple ✔✔ownership of all the rights of property, except those reserved by
the government
General data, specific data, comparative data ✔✔In the appraisal process, data
collection
requires the assessor to collect
Neighborhood ✔✔An area of complementary land uses in which all properties
are similarly
influenced by the 4 forces affecting value.
Consumer expectations ✔✔Element of the marketplace that is likely to
contribute to a change in
demand
Entrepreneur expectations ✔✔Element of the marketplace that is likely to
contribute to a change
in supply
Market area ✔✔The primary sort in analyzing land sales in stratification
Stratification ✔✔The 1st step in analyzing land sales
Change ✔✔The principle that market value is determined by such factors as
zoning, rent
controls, interest rates, etc.
, IAAO Workshop 852 AAS Case Study;
Questions & Answers 100 Solved
Front foot ✔✔unit would be good to use when pedestrian access is important
ANTICIPATED USE OR DEVELOPMENT METHOD ✔✔Land valuation method that
replicates the actions of subdividers or developers
Replacement cost ✔✔Cost of producing a building having same utility but using
modern
materials, design, and workmanship
Principle of contribution ✔✔Underlying principle in the adjustment process in
sales comparison
approach
Principle of substitution ✔✔A buyer will pay no more for a property than for a
comparable
property
Principle of change ✔✔States that market value is never constant because of
environmental,
governmental, social, and economic forces
Reproduction cost ✔✔The cost of building an exact replica of a building
When a property experiences functional obsolescence, it ✔✔Is usually the result
of diminished
utility within a building
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 TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
