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IAAO 101 Exam With 100% Correct And Verified Answers 2024
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IAAO 101 Exam With 100% Correct And Verified Answers 2024
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IAAO 101 Exam With 100% Correct AndVerified Answers 2024
The basic responsibilities of the assessor are to _________ all
taxable property. - Correct Answer-A. List
B. Value
C. Discover
D. All of the Above
One of the steps an assessor must take in the discovery of
property is to: - Correct Answer-conduct periodic on-site
inspections of properties
The property tax is a/an _________________ tax, meaning it
is based on value. - Correct Answer-ad valorem
Assume the following characteristics for a single-family
residence:
Actual value=$175,000; assessment level=20 percent; tax
rate=92.8 mills. Calculate the property tax for the residence.
- Correct Answer-$3248.00
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, If a tax rate is $13.30 per 100, the decimal equivalent would
be - Correct Answer-0.1330
______________ divided by the assessed value equals the tax
rate. - Correct Answer-Budget
Assessment level times the tax rate equals
the_____________________. - Correct Answer-effective tax
rate
Given the following, compute a tax rate using dollars per
hundred:
Budget: $6,000,000
Market Value: $800,000,000
Assessment Level: 50%
Non-property tax revenu: $1,000.000 - Correct Answer-
$1.25
____________ is the physical land and everything
permanently attached to it. - Correct Answer-real estate
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