The property tax is an ____ __________ tax, meaning it is based on value.
Ans: ad valorem
Quiz The assessor is responsible for the _______, ________, and __________ of all taxable
property.
Ans: discovery
listing
valuation
Quiz The taxable location of personal property is referred to as its __________.
Ans: situs
,Quiz An estimate of value, usually in writing, of an adequately described property, as of a given
date, is termed ___ ___________.
Ans: an appraisal
Quiz A jurisdiction's tax rate is determined by dividing the _________ to be derived from
property tax by the total _________ ____________ of the taxing jurisdiction.
Ans: budget
assessed valuation
Quiz The type of value usually estimated by the assessor is __________ value.
Ans: market
Quiz The _________ ________ _________ reflects the ratio between the current tax bill and
the property value.
Ans: effective tax rate
Quiz In order for a property to have value, it must have ______, _______, ________ and
__________ __________ _________.
Ans: utility
scarcity
desirability
, effective purchasing power
Quiz The use that generates the highest net return to a property over a reasonable time period
is called ________ _______ _________ _________.
Ans: highest and best use
Quiz The principle of __________ states that maximum value of a neighborhood is attained
when the uses of land are perfectly complementary.
Ans: balance
Quiz Which appraisal principle affirms that land cannot be valued on the basis of one use while
improvements are valued on the basis of another?
Ans: Consistent use
Quiz List the four tests that the appraiser must make in the analysis of the highest and best use.
Ans: Legally permissible
Physically possible
Financially feasible
Most productive
Quiz _______ ________ is a parcel of land and any structures or improvements that are
permanently affixed thereto.
Ans: ad valorem
Quiz The assessor is responsible for the _______, ________, and __________ of all taxable
property.
Ans: discovery
listing
valuation
Quiz The taxable location of personal property is referred to as its __________.
Ans: situs
,Quiz An estimate of value, usually in writing, of an adequately described property, as of a given
date, is termed ___ ___________.
Ans: an appraisal
Quiz A jurisdiction's tax rate is determined by dividing the _________ to be derived from
property tax by the total _________ ____________ of the taxing jurisdiction.
Ans: budget
assessed valuation
Quiz The type of value usually estimated by the assessor is __________ value.
Ans: market
Quiz The _________ ________ _________ reflects the ratio between the current tax bill and
the property value.
Ans: effective tax rate
Quiz In order for a property to have value, it must have ______, _______, ________ and
__________ __________ _________.
Ans: utility
scarcity
desirability
, effective purchasing power
Quiz The use that generates the highest net return to a property over a reasonable time period
is called ________ _______ _________ _________.
Ans: highest and best use
Quiz The principle of __________ states that maximum value of a neighborhood is attained
when the uses of land are perfectly complementary.
Ans: balance
Quiz Which appraisal principle affirms that land cannot be valued on the basis of one use while
improvements are valued on the basis of another?
Ans: Consistent use
Quiz List the four tests that the appraiser must make in the analysis of the highest and best use.
Ans: Legally permissible
Physically possible
Financially feasible
Most productive
Quiz _______ ________ is a parcel of land and any structures or improvements that are
permanently affixed thereto.
