Iaao 101 assessment - Study guides, Class notes & Summaries

IAAO 101 Review Questions with Complete Solutions 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 da...

IAAO Course 101 Review questions and answers 2023 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 Ra...

IAAO 101 Exam Questions With Verified Answers 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 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 residen...

IAAO 101 Complete Study Guide with Verified Solutions | Latest 2023/2024 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 Ra...

IAAO 101 Exam With 100% Correct And 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.

IAAO 101 - Review Questions & Answers | Latest 2023/2024 (Already Graded A+) 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 ___ _____...

IAAO 101 – Questions and Answers with Verified Solutions The basic responsibilities of the assessor are to _________ all taxable property. 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: conduct periodic on-site inspections of properties The property tax is a/an _________________ tax, meaning it is based on value. ad valorem Assume the following characteristics for a single-family residence: Actual value=$175,000;...

IAAO 101 Questions and Answers 100% Pass ad 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 _________...

IAAO Course 101 Review, questions and 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 (...