Iaao 101 exam questions Guías de estudio, Notas de estudios & Resúmenes
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iaao 101 Exam Questions with correct Answers
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iaao 101 Exam Questions with correct Answers 
 
 
The property tax is an ____ __________ tax, meaning it is based on value. - Correct answer ad valorem" 
 
"The assessor is responsible for the _______, ________, and __________ of all taxable property. - Correct answer discovery 
listing 
valuation" 
 
"The taxable location of personal property is referred to as its __________. - Correct answer situs" 
 
"An estimate of value, usually in writing, of an adequately described property, as of a...
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iaao 101 Exam Questions with correct Answers
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iaao 101 Exam Questions with correct Answers 
 
 
The basic responsibilities of the assessor are to _________ all taxable property. - Correct 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: - Correct answer conduct periodic on-site inspections of properties" 
 
"The property tax is a/an _________________ tax, meaning it is based on value. - Correct answer ad valorem" 
 
"Assume the following charac...
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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) 
 
Pro...
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