Iaao 101 chapter one - Study guides, Class notes & Summaries

IAAO 101 *CHAPTER ONE

IAAO 101-Chapter 1 Review, latest updated 2023 Ad valorem Property tax is based on value Discovery, listing, valuation Responsibilities of the assessor Situs Taxable location of personal property Appraisal An estimate of value, usually in writing, of an adequately described property, as of a given date Tax rate Divide the budget by total assessed value Market value Type of value usually estimated by the assessor Effective tax rate The ratio betwe...

IAAO 101 Chapter 3 Review questions and answers| graded A+ 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. substitution Cost that occur on the construction site are considered _____ costs. 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 m...

IAAO 101-Chapter 1 Review questions and answers 2023 Ad valorem Property tax is based on value Discovery, listing, valuation Responsibilities of the assessor Situs Taxable location of personal property Appraisal An estimate of value, usually in writing, of an adequately described property, as of a given date Tax rate Divide the budget by total assessed value Market value Type of value usually estimated by the assessor Effective tax rate The ratio...

IAAO 101 Chapter 3 Review questions and answers 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. substitution Cost that occur on the construction site are considered _____ costs. 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 buil...