Texas Senior Property Tax Consultant
Exam Questions With Complete
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
Exam Questions With Complete
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
