NYC City Assessor (Promotion) Examination: 200 Practice Questions
and correct answers
Question 1
The primary responsibility of a local assessor in New York is to:
A) Collect property taxes from homeowners
B) Determine the market value of all real property within the jurisdiction
C) Approve building permits for new construction
D) Set the annual property tax rate for the municipality
Correct Answer: B) Determine the market value of all real property within the jurisdiction
Rationale: The assessor's core duty is to establish fair and equitable property values for tax
purposes. Tax collection and rate-setting are handled by other officials, and building permits are
a separate function .
Question 2
The standard unit of assessment in New York State is:
A) Personal property
B) Real property
C) Business inventory
D) Motor vehicles
Correct Answer: B) Real property
Rationale: Personal property, including business inventory and vehicles, is not subject to ad
valorem taxation in New York. The assessment system focuses exclusively on real property .
Question 3
,Which entity oversees assessor training and certification in New York?
A) New York State Education Department
B) New York State Department of State
C) New York State Department of Taxation and Finance, Office of Real Property Tax Services
(ORPTS)
D) New York State Division of Housing and Community Renewal
Correct Answer: C) New York State Department of Taxation and Finance, Office of Real Property
Tax Services (ORPTS)
Rationale: ORPTS is the specific agency within the Department of Taxation and Finance that
administers assessor education, training, and certification programs .
Question 4
Market value is best defined as:
A) The price the owner paid for the property
B) The replacement cost of the building
C) The most probable price a property would bring in an open and competitive market
D) The assessed value listed on the tax roll
Correct Answer: C) The most probable price a property would bring in an open and competitive
market
Rationale: This reflects the definition used in professional valuation standards and New York
law, considering a willing buyer and seller with reasonable knowledge .
Question 5
Which approach to value relies primarily on the income generated by a property?
A) Cost approach
,B) Sales comparison approach
C) Income approach
D) Summation approach
Correct Answer: C) Income approach
Rationale: The income approach capitalizes the net operating income (NOI) a property
generates into an estimate of value, making it the primary method for income-producing
properties like apartments and office buildings .
Question 6
The Sales Comparison Approach is most reliable when valuing:
A) A new, single-family home in a subdivision with many recent sales
B) A large, specialized manufacturing plant
C) A historic church
D) A public school
Correct Answer: A) A new, single-family home in a subdivision with many recent sales
Rationale: The sales comparison approach relies on recent, comparable sales data. It is most
reliable for residential properties where there is a robust market of similar properties .
Question 7
In the Cost Approach, what is the order of steps after estimating the replacement cost of the
structure?
A) Subtract physical deterioration, then add land value
B) Subtract accrued depreciation, then add land value
C) Add land value, then subtract accrued depreciation
D) Add land value, then subtract physical deterioration only
, Correct Answer: B) Subtract accrued depreciation, then add land value
Rationale: The cost approach formula is: Replacement Cost New – Accrued Depreciation + Land
Value = Property Value. Accrued depreciation includes physical deterioration, functional
obsolescence, and external obsolescence .
Question 8
Physical deterioration, functional obsolescence, and external obsolescence are three types of:
A) Market conditions
B) Capitalization rates
C) Accrued depreciation
D) Zoning variances
Correct Answer: C) Accrued depreciation
Rationale: Accrued depreciation is the loss in value from any cause. Physical deterioration is
wear and tear, functional obsolescence is outdated design, and external obsolescence is loss
from factors outside the property .
Question 9
Equalization rates in New York are established by:
A) The local town board
B) The county legislature
C) The Office of Real Property Tax Services (ORPTS)
D) The school district administration
Correct Answer: C) The Office of Real Property Tax Services (ORPTS)
and correct answers
Question 1
The primary responsibility of a local assessor in New York is to:
A) Collect property taxes from homeowners
B) Determine the market value of all real property within the jurisdiction
C) Approve building permits for new construction
D) Set the annual property tax rate for the municipality
Correct Answer: B) Determine the market value of all real property within the jurisdiction
Rationale: The assessor's core duty is to establish fair and equitable property values for tax
purposes. Tax collection and rate-setting are handled by other officials, and building permits are
a separate function .
Question 2
The standard unit of assessment in New York State is:
A) Personal property
B) Real property
C) Business inventory
D) Motor vehicles
Correct Answer: B) Real property
Rationale: Personal property, including business inventory and vehicles, is not subject to ad
valorem taxation in New York. The assessment system focuses exclusively on real property .
Question 3
,Which entity oversees assessor training and certification in New York?
A) New York State Education Department
B) New York State Department of State
C) New York State Department of Taxation and Finance, Office of Real Property Tax Services
(ORPTS)
D) New York State Division of Housing and Community Renewal
Correct Answer: C) New York State Department of Taxation and Finance, Office of Real Property
Tax Services (ORPTS)
Rationale: ORPTS is the specific agency within the Department of Taxation and Finance that
administers assessor education, training, and certification programs .
Question 4
Market value is best defined as:
A) The price the owner paid for the property
B) The replacement cost of the building
C) The most probable price a property would bring in an open and competitive market
D) The assessed value listed on the tax roll
Correct Answer: C) The most probable price a property would bring in an open and competitive
market
Rationale: This reflects the definition used in professional valuation standards and New York
law, considering a willing buyer and seller with reasonable knowledge .
Question 5
Which approach to value relies primarily on the income generated by a property?
A) Cost approach
,B) Sales comparison approach
C) Income approach
D) Summation approach
Correct Answer: C) Income approach
Rationale: The income approach capitalizes the net operating income (NOI) a property
generates into an estimate of value, making it the primary method for income-producing
properties like apartments and office buildings .
Question 6
The Sales Comparison Approach is most reliable when valuing:
A) A new, single-family home in a subdivision with many recent sales
B) A large, specialized manufacturing plant
C) A historic church
D) A public school
Correct Answer: A) A new, single-family home in a subdivision with many recent sales
Rationale: The sales comparison approach relies on recent, comparable sales data. It is most
reliable for residential properties where there is a robust market of similar properties .
Question 7
In the Cost Approach, what is the order of steps after estimating the replacement cost of the
structure?
A) Subtract physical deterioration, then add land value
B) Subtract accrued depreciation, then add land value
C) Add land value, then subtract accrued depreciation
D) Add land value, then subtract physical deterioration only
, Correct Answer: B) Subtract accrued depreciation, then add land value
Rationale: The cost approach formula is: Replacement Cost New – Accrued Depreciation + Land
Value = Property Value. Accrued depreciation includes physical deterioration, functional
obsolescence, and external obsolescence .
Question 8
Physical deterioration, functional obsolescence, and external obsolescence are three types of:
A) Market conditions
B) Capitalization rates
C) Accrued depreciation
D) Zoning variances
Correct Answer: C) Accrued depreciation
Rationale: Accrued depreciation is the loss in value from any cause. Physical deterioration is
wear and tear, functional obsolescence is outdated design, and external obsolescence is loss
from factors outside the property .
Question 9
Equalization rates in New York are established by:
A) The local town board
B) The county legislature
C) The Office of Real Property Tax Services (ORPTS)
D) The school district administration
Correct Answer: C) The Office of Real Property Tax Services (ORPTS)
