Iaao 101 c Study guides, Class notes & Summaries

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

Cadastral maps - Answer- Are also known as assessment maps, appraisal maps, ownership maps and tax maps Cadastral maps show - Answer- Boundaries of parcels, size and location of parcels relative to other properties, major physical features such as roads streams railroads, etc... Map scale - Answer- The relationship of linear distance on the map to linear distance on the ground CAD mapping system - Answer- Computer assisted drafting GIS mapping system - Answer- Geographic information syste...

IAAO 101 Quiz with complete solutions- Latest 2023/2024 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...

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...

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 Appraisal - Answer- an estimate of value; an opinion Tax Rate - Answer- (Budget - Other Revenue) / Total Assessed Value Effective Tax Rate - Answer- Current Taxes / Market Value or Assessment Ratio x Tax R...

The cost approach is premised primarily on the principle of ______________, which state an informed buyer will not pay more to build a property than the cost of a similar property with equal utility. - Answer- substitution Cost that occur on the construction site are considered _____ costs. - Answer- direct Building A contains 10,000 square feet and is 100' x 100'. Building B contains 10,000 square feet and is 50' x 200'. Will it cost more to build Building A or Building B? - Answer- B...

IAAO 101 Chapter 3 Review Questions and Answers/2023/A+ Graded

IAAO 101 Chapter 1 Q&A with complete solution 2023/2024

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...