Iaao 101 quiz exam - Study guides, Class notes & Summaries

The basic responsibilities of the assessor are to ___________________ all taxable property - answer-Discover, List, and Value One of the steps an assessor must take in the discovery of property is to - answer-Conduct periodic on-site inspections of properties The property tax is a/an _____________________ tax, meaning it is based on value. - answer-Ad Valorem If a tax rate is $13.30 per $100, the decimal equivalent would be - answer-0.1330 Actual value = $175,...

IAAO 101 Quiz Exam | Questions with 100% Correct Answers | Verified | Updated 2024

THE BASIC RESPONSIBLITIES OF THE ASSESSOR ARE TO ________________________________ALL TAXABLE PROPERTY - answer-LIST VALUE DISCOVER ONE OF THE STEPS AN ASSESSOR MUST TAKE IN THE DISCOVERY OF PROPERTY IS - answer-PERIODIC ON-SITE INSPECTIONS A PROPERTY TAX IS A/AN ____________________________TAX, MEANING IT IS BASED ON VALUE - answer-AD VALOREM ASSUME THE FOLLOWING CHARACTERISTICS FOR A SINGLE FAMILY RESIDENCE: ACTUAL VALUE = $175,000 ASSESSMENT LEVEL = 20% TAX RAT...

IAAO 101 EXAM LATEST QUIZ WITH ANSWERS GRADED A+

IAAO 101 EXAM QUIZ AND SOLUTIONS GRADED A+

The property tax is an ____ __________ tax, meaning it is based on value. ad valorem The assessor is responsible for the _______, ________, and __________ of all taxable property. discovery listing valuation The taxable location of personal property is referred to as its __________. situs An estimate of value, usually in writing, of an adequately described property, as of a given date, is termed ___ ___________. an appraisal