Iaao Study guides, Class notes & Summaries

Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it reflects the actions of the marketplace as well as what by buyers & sellers are actually doing doing and paying. -Consumer tastes/preferences -Consumer income -Price of related commodities -Consumer ...

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

Land - The surface of the earth and everything above and beneath it . Attributes of Land - Permanent, Unique, Finite Supply, Functional and Stationary Characteristics of Land - Demand, Utility, Scarcity and Transferability Raw land - unimproved land in its natural state prior to grading, construction and subdividing. Agricultural land - referred to as undeveloped land except when platted subdivision Improved land - Improvements that prepare the land for development (to be built up...

IAAO 112 2023-2024|SOLVED&UPDATED|DOWNLOAD TO PASS

IAAO 102 Questions and Answers Already Graded A Anticipation Value is created by the expectation of benefits to be derived in the future Substitution the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. Contribution the value of a component of real estate can be measured by the amount it contributes to net operating income because net operating income can be capitalized into value. Mar...

Which of the following is an attribute of an effective assessment system? - ANSWER-An appropriate legal framework. A competent staff and an effective training program. Complete maps and property data All of the above The ______________________ principle states that authority and responsibility should flow vertically from the highest level to the lowest level, following what is commonly called "the chain of command." - ANSWER-Scalar As an organization grows, various portions of a par...

IAAO 101 Quiz with complete solutions- Latest 2023/2024 The basic responsibilities of the assessor are to _________ all taxable property. - 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: - conduct periodic on-site inspections of properties The property tax is a/an _________________ tax, meaning it is based on value. - ad valorem Assume the following characteristics for a single-family residence: Actual value...

IAAO Course 300 Exam Study Guide with complete solution