Iaao 101 assessment - Study guides, Class notes & Summaries

IAAO 101 2024 Exam Review with Correct Solutions Tax Rate (def.) - Answer -Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) - Answer -Tax revenue (amount) / Assessed value Property Tax (formula) - Answer -Subject assessed value / Tax rate Budget Revenue (formula) - Answer -Total budget - Other taxes Effective Tax Rate (def.) - Answer -Reflects the relationship between total property taxes on real property and the property's market value. E...

IAAO Course 101 Review Questions with Verified Answers Tax Rate (def.) Percent of assessed value at which each property is taxed in a given district. Tax Rate (formula) Tax revenue (amount) / Assessed value Property Tax (formula) Subject assessed value / Tax rate Budget Revenue (formula) Total budget - Other taxes Effective Tax Rate (def.) Reflects the relationship between total property taxes on real property and the property's market value. Effective Tax Rate (formula) Assessment ratio (...

IAAO 101 - Review Questions The property tax is an ____ __________ tax, meaning it is based on value. - ANSWER ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. - ANSWER discovery listing valuation The taxable location of personal property is referred to as its __________. - ANSWER situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. - ANSWER an a...

IAAO 101 – Quizzes with Correct Solutions 2024 The basic responsibilities of the assessor are to _________ all taxable property. - 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: - Answer -conduct periodic onsite inspections of properties The property tax is a/an _________________ tax, meaning it is based on value. - Answer -ad valorem Assume the following characteristics for a single-family residence: ...

IAAO 101 EXAM QUIZES WITH COMPLETE SOLUTIONS 2023/2024 GRADED A+. 2 / 4 1. The basic responsibilities of the assessor are to all taxable property.: A. List B. Value C. Discover D. All of the Above 2. One of the steps an assessor must take in the discovery of property isto:: conduct periodic on-site inspections of properties 3. The property tax is a/an tax, meaning it is based onvalue.: ad valorem 4. Assume the following characteristics for a single-family residence: Actual value=$1...

Ad Valorem - Answer- According to value Property Tax is A. an ad valorem tax B. an ad hominem tax C. a federal tax D. a sales tax - Answer- A. an ad valorem tax Assessor Responsibilities - Answer- Discovery, Listing, and Valuation Situs - Answer- Taxable Location

IAAO 101 Questions and Answers with Verified Solutions The basic responsibilities of the assessor are to ___________________ all taxable property Discover, List, and Value One of the steps an assessor must take in the discovery of property is to Conduct periodic on-site inspections of properties The property tax is a/an _____________________ tax, meaning it is based on value. Ad Valorem If a tax rate is $13.30 per $100, the decimal equivalent would be 0.1330 Actual value = $175,000; assessm...

IAAO 101 EXAM QUIZES WITH COMPLETE SOLUTIONS 2023/2024 GRADED A+. 2 / 4 1. The basic responsibilities of the assessor are to all taxable property.: A. List B. Value C. Discover D. All of the Above 2. One of the steps an assessor must take in the discovery of property isto:: conduct periodic on-site inspections of properties 3. The property tax is a/an tax, meaning it is based onvalue.: ad valorem 4. Assume the following characteristics for a single-family residence: Actual value=$175,000; assess...

IAAO 101 – Quizzes Exam 2024The basic responsibilities of the assessor are to _________ all taxable property. - 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: - answer-conduct periodic on-site inspections of properties The property tax is a/an _________________ tax, meaning it is based on value. - answer-ad valorem Assume the following characteristics for a single-family residenc...

IAAO 101 2024 QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+ ad valorem - CORRECT ANSWER According to Value The basic responsibilities of an Appraiser to all taxable property. - CORRECT ANSWER 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - CORRECT ANSWER Situs The type of value usually estimated by an Appraiser is the - CORRECT ANSWER Market Value The effective tax rate reflects the ratio between what - CORRECT ANSWER The cu...