Texas Senior Property Tax Consultant Exam Study
Guide Questions with Accurate Solutions
The Texas Property Tax Code, Section 41, provides for Local Review which:
A - lists the reasons for taxpayer appeals
B - lists the types of exemptions available to the taxpayer
C - lists the different types of taxable property
D - lists the qualifications to serve on an appraisal review board - Answer A - lists the reasons for
taxpayer appeals
Property value may be estimated using what approaches: - Answer Sales comparison, income
capitalization and cost approaches
The Texas Property Tax Code, Section 42, provides for Judicial Review including:
A - the rights of disabled veterans
B - the right to appeal the Order of Determining Protest from the ARB
C - alternate appeal methods in lieu of an appeal to the ARB
D - the rights to filing late applications - Answer B - the right to appeal the Order of Determining Protest
from the ARB
How are ARB members compensated? - Answer By the appraisal district
How may an ARB member be removed? - Answer Only by a majority vote of the appraisal district board
of directors
The ARB has the authority to:
A - subpoena witnesses, records and financial documents of a business
,B - terminate the employment of the chief appraiser
C - select the person who will represent the district at a hearing
D - set tax rates for taxing entities within the county they serve - Answer A - subpoena witnesses,
records and financial documents of a business
What standards are required to be used by appraisal districts to estimate market value? - Answer USPAP
(Uniform Standards of Professional Appraisal Practices
After the ARB has heard evidence from the protesting party and appraisal district they shall determine
the protest and... - Answer Notify the taxpayer of their decision by written order (NOD)
Equal and uniform taxation is mandated by - Answer The Texas Constitution and the Texas Property Tax
Code
According to the Texas Property Tax Code, a tax bill mailed after January 10, has a delinquency date of -
Answer the first day of the next month, providing at least 21 days to pay
Types of business personal property - Answer Tangible or intangible
(Furniture and fixtures, machinery and equipment, computers, supplies, inventory, good will, etc. also
acceptable)
A taxpayer may:
A - designate powers to more than one agent for a single item listed on the AOA
B - designate a general power to more than one agent
C - designate a member of the ARB to represent his/her property
D - designate an agent to receive only communications from the chief appraiser, the ARB and represent
them in property tax matters - Answer D - designate an agent to receive only communications from the
chief appraiser, the ARB and represent them in property tax matters
An acre contains how many square feet? - Answer 43, 560 sq. ft.
,Representation of a property owner is governed by what section of the Texas Property Tax Code? -
Answer Section 1.111
An easement is.... - Answer an interest in real property that transfers use but not ownership of the
property
An analysis of real property includes:
A - the type of building construction to be placed on vacant land
B - research of estimate of life expectancy of existing improvements
C - highest and best use
D - the possible zoning of the property - Answer C - highest and best use
An important component of the income approach is: - Answer The capitalization rate (cap rate)
What are the steps used in the cost approach? - Answer
The sales comparison approach is best supported by... - Answer several sales of similar properties in the
same neighborhood or market area
A method of land surveying that describes a parcel of land is... - Answer metes and bounds
What do you consider when estimating the value of the land? - Answer The size and shape of the land
An improvement which works and is useful is said to have... - Answer functional utility
Market value less total development costs equal - Answer profit (or loss)
Income less operating expenses equals - Answer NOI or net operating income
, A flaw in construction, materials or design is known as - Answer functional obsolescence
Ex parte communication between ARB members and the appraisal district is... - Answer prohibited
All real and tangible personal property is
A - taxable based on the percentage of use in this state
B - taxable unless exempt by law
C - taxable if occupied on January 1
D - considered exempted unless determined to be taxable by the chief appraiser - Answer B - taxable
unless exempt by law
Incoming producing tangible personal property and mineral interests having a value less than _____ is
exempt. - Answer $500
Property is taxable by a taxing unit if - Answer located within their jurisdiction on January 1
By application, the owner of inventory may request an alternate assessment date of... - Answer
September 1 instead of January 1
All property is taxable unless exempted by... - Answer Federal law, the Texas Constitution or the Texas
Property Tax Code
Freeport exemption allows for inventory temporarily located in Texas for less than _____ days to be
exempt. - Answer 175
To be eligible for 1-d-1 (Open Space) use valuation, land must be... - Answer devoted primarily to
agricultural use
To qualify for an exemption on a single family residence
Guide Questions with Accurate Solutions
The Texas Property Tax Code, Section 41, provides for Local Review which:
A - lists the reasons for taxpayer appeals
B - lists the types of exemptions available to the taxpayer
C - lists the different types of taxable property
D - lists the qualifications to serve on an appraisal review board - Answer A - lists the reasons for
taxpayer appeals
Property value may be estimated using what approaches: - Answer Sales comparison, income
capitalization and cost approaches
The Texas Property Tax Code, Section 42, provides for Judicial Review including:
A - the rights of disabled veterans
B - the right to appeal the Order of Determining Protest from the ARB
C - alternate appeal methods in lieu of an appeal to the ARB
D - the rights to filing late applications - Answer B - the right to appeal the Order of Determining Protest
from the ARB
How are ARB members compensated? - Answer By the appraisal district
How may an ARB member be removed? - Answer Only by a majority vote of the appraisal district board
of directors
The ARB has the authority to:
A - subpoena witnesses, records and financial documents of a business
,B - terminate the employment of the chief appraiser
C - select the person who will represent the district at a hearing
D - set tax rates for taxing entities within the county they serve - Answer A - subpoena witnesses,
records and financial documents of a business
What standards are required to be used by appraisal districts to estimate market value? - Answer USPAP
(Uniform Standards of Professional Appraisal Practices
After the ARB has heard evidence from the protesting party and appraisal district they shall determine
the protest and... - Answer Notify the taxpayer of their decision by written order (NOD)
Equal and uniform taxation is mandated by - Answer The Texas Constitution and the Texas Property Tax
Code
According to the Texas Property Tax Code, a tax bill mailed after January 10, has a delinquency date of -
Answer the first day of the next month, providing at least 21 days to pay
Types of business personal property - Answer Tangible or intangible
(Furniture and fixtures, machinery and equipment, computers, supplies, inventory, good will, etc. also
acceptable)
A taxpayer may:
A - designate powers to more than one agent for a single item listed on the AOA
B - designate a general power to more than one agent
C - designate a member of the ARB to represent his/her property
D - designate an agent to receive only communications from the chief appraiser, the ARB and represent
them in property tax matters - Answer D - designate an agent to receive only communications from the
chief appraiser, the ARB and represent them in property tax matters
An acre contains how many square feet? - Answer 43, 560 sq. ft.
,Representation of a property owner is governed by what section of the Texas Property Tax Code? -
Answer Section 1.111
An easement is.... - Answer an interest in real property that transfers use but not ownership of the
property
An analysis of real property includes:
A - the type of building construction to be placed on vacant land
B - research of estimate of life expectancy of existing improvements
C - highest and best use
D - the possible zoning of the property - Answer C - highest and best use
An important component of the income approach is: - Answer The capitalization rate (cap rate)
What are the steps used in the cost approach? - Answer
The sales comparison approach is best supported by... - Answer several sales of similar properties in the
same neighborhood or market area
A method of land surveying that describes a parcel of land is... - Answer metes and bounds
What do you consider when estimating the value of the land? - Answer The size and shape of the land
An improvement which works and is useful is said to have... - Answer functional utility
Market value less total development costs equal - Answer profit (or loss)
Income less operating expenses equals - Answer NOI or net operating income
, A flaw in construction, materials or design is known as - Answer functional obsolescence
Ex parte communication between ARB members and the appraisal district is... - Answer prohibited
All real and tangible personal property is
A - taxable based on the percentage of use in this state
B - taxable unless exempt by law
C - taxable if occupied on January 1
D - considered exempted unless determined to be taxable by the chief appraiser - Answer B - taxable
unless exempt by law
Incoming producing tangible personal property and mineral interests having a value less than _____ is
exempt. - Answer $500
Property is taxable by a taxing unit if - Answer located within their jurisdiction on January 1
By application, the owner of inventory may request an alternate assessment date of... - Answer
September 1 instead of January 1
All property is taxable unless exempted by... - Answer Federal law, the Texas Constitution or the Texas
Property Tax Code
Freeport exemption allows for inventory temporarily located in Texas for less than _____ days to be
exempt. - Answer 175
To be eligible for 1-d-1 (Open Space) use valuation, land must be... - Answer devoted primarily to
agricultural use
To qualify for an exemption on a single family residence
