Property Tax Consultant Exam
Appraisal Ratio - ANS-the ratio of a belongings's appraised cost as determined via the
appraisal district or ARB
Assessed Value - ANS-the amount decided by using multiplying the appraised cost by the
applicable evaluation ratio
Assessor - ANS-accountable for assessing property taxes
Collector - ANS-accountable for accumulating assets taxes for a taxing unit
Comptroller - ANS-the Comptroller of Public Accounts of the State of Texas
Exigencies - ANS-unfortunate situations
Formula for Taxable Value - ANS-assessed value-partial exemption price
Intangible Personal Property - ANS-·a declare, interest, right or different aspect that has cost
but can not be seen, felt, weighed, measured, or otherwise perceived by means of the
senses, even though it's lifestyles can be evidenced by way of a document
Market Value - ANS-the charge at which a belongings might transfer for coins or its equal
under triumphing marketplace situations if:
· Listed for sale in the open marketplace with "reasonable" time for the vendor to find a
purchaser
· Both the vendor and the buyer realize of all of the uses and purposes of the property and of
the enforceable restrictions on its use (square footage, acreage, constructing codes, zoning,
etc.)
· Both the vendor and the customer searching for to maximize their advantage and neither is
able to take benefit of the exigencies of the alternative
Partial Exemption - ANS-an exemption of a part of the price of taxable property
Personal Property - ANS-property that is not actual property
Possessory Interest - ANS-an interest that exists due to possession or exclusive use of a
belongings and this is unaccompanied with the aid of ownership of a price
Property - ANS-Any depend or element capable of private ownership
Real Property - ANS--land
-an improvement
-a mine or quarry
-a mineral in vicinity
Appraisal Ratio - ANS-the ratio of a belongings's appraised cost as determined via the
appraisal district or ARB
Assessed Value - ANS-the amount decided by using multiplying the appraised cost by the
applicable evaluation ratio
Assessor - ANS-accountable for assessing property taxes
Collector - ANS-accountable for accumulating assets taxes for a taxing unit
Comptroller - ANS-the Comptroller of Public Accounts of the State of Texas
Exigencies - ANS-unfortunate situations
Formula for Taxable Value - ANS-assessed value-partial exemption price
Intangible Personal Property - ANS-·a declare, interest, right or different aspect that has cost
but can not be seen, felt, weighed, measured, or otherwise perceived by means of the
senses, even though it's lifestyles can be evidenced by way of a document
Market Value - ANS-the charge at which a belongings might transfer for coins or its equal
under triumphing marketplace situations if:
· Listed for sale in the open marketplace with "reasonable" time for the vendor to find a
purchaser
· Both the vendor and the buyer realize of all of the uses and purposes of the property and of
the enforceable restrictions on its use (square footage, acreage, constructing codes, zoning,
etc.)
· Both the vendor and the customer searching for to maximize their advantage and neither is
able to take benefit of the exigencies of the alternative
Partial Exemption - ANS-an exemption of a part of the price of taxable property
Personal Property - ANS-property that is not actual property
Possessory Interest - ANS-an interest that exists due to possession or exclusive use of a
belongings and this is unaccompanied with the aid of ownership of a price
Property - ANS-Any depend or element capable of private ownership
Real Property - ANS--land
-an improvement
-a mine or quarry
-a mineral in vicinity
