Iaao course 101 exam Study guides, Class notes & Summaries
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IAAO COURSE 101 - (Fundamentals of Real Property Appraisal) Exams PACKAGE DEAL | BUNDLE contains Exam Questions and verified answers as well as a complete study guide | Latest 2023/2024
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IAAO COURSE 101 - (Fundamentals of Real Property Appraisal) Exams PACKAGE DEAL | BUNDLE contains Exam Questions and verified answers as well as a complete study guide | Latest 2023/2024
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IAAO Course 101 Exam Questions and Answers 2023
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ad volorem - Answer- according to value 
 
3 Responsibilities of an assessor - Answer- Discover 
List 
Value 
 
Important tools in the discover of property - Answer- Adequate mapping system 
Recorded information 
Periodic on-site inspection 
 
Different class identifications - Answer- Real 
Personal 
Exempt 
Utility 
 
Important elements in the listing of property - Answer- Legal description 
Street address 
Parcel identifier 
Property class 
Property use 
Property situs 
Physical attributes ...
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IAAO - Course 101 Exam Questions & Answers
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Discover 
List 
Value taxable property - answer-Basic appraiser responsibilities 
 
Standard 6: Scope of Work - answer-USPAP standard for appraisal practice 
 
ad valorem tax - answer-Property tax based on value 
 
Tax Rate (formula) - answer-Budget (minus other revenue) / Assessed Value of Jurisdiction 
 
Tax Bill (formula) - answer-Tax Rate x Ind. Property Assessed Value 
 
Assessed Value (AV) formula - answer-Assessment Ratio (AR) x Market Value (MV) 
 
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