Exam (elaborations)
IAAO 101 Exam With 100% Correct And Verified Answers 2024
- Course
- Institution
IAAO 101 Exam With 100% Correct And Verified Answers 2024
[Show more]
Content preview
IAAO 101 Exam With 100% Correct AndVerified Answers 2024
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 characteristics for a single-family
residence:
Actual value=$175,000; assessment level=20 percent; tax
rate=92.8 mills. Calculate the property tax for the residence.
- Correct Answer-$3248.00
Vendarsol
, If a tax rate is $13.30 per 100, the decimal equivalent would
be - Correct Answer-0.1330
______________ divided by the assessed value equals the tax
rate. - Correct Answer-Budget
Assessment level times the tax rate equals
the_____________________. - Correct Answer-effective tax
rate
Given the following, compute a tax rate using dollars per
hundred:
Budget: $6,000,000
Market Value: $800,000,000
Assessment Level: 50%
Non-property tax revenu: $1,000.000 - Correct Answer-
$1.25
____________ is the physical land and everything
permanently attached to it. - Correct Answer-real estate
Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75391 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now