Iaao course 101 shotgun Study guides, Class notes & Summaries
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![IAAO Course 101 Review Questions with Verified Answers(2023/24) A+](/docpics/3637598/652e51d8303a7_3637598_121_171.jpeg)
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IAAO Course 101 Review Questions with Verified Answers(2023/24) A+
- Exam (elaborations) • 19 pages • 2023
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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.
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