The basic responsibilities of the assessor are to ___________________ all taxable property -

Discover, List, and Value

One of the steps an assessor must take in the discovery of property is to - Conduct periodic

on-site inspections of properties

The property tax is a/an _____________________ tax, meaning it is based on value. - Ad Valorem

If a tax rate is $13.30 per $100, the decimal equivalent would be - 0.1330

Actual value = $175,000; assessment level = 20 percent; tax rate= 92.8 mills. Calculate the

property tax for the residence - $3,248.00

_______________________________ divided by the assessed value equals the tax rate. - Budget

Assessment level times the tax rate equals the - Effective Tax Rate

____________________________________ is a the physical land and everything permanently attached

to it. - Real Estate

Which of the following is governmental restriction to the "bundle of rights"? - Emiment

Domain

Which of the following is a basic right associated with the ownership of property? - To use,

To lease or Rent, To enter or leave

In order for a property to have value, it must have utility, scarcity, desirability, and effective

purchasing power. The economic forces that determine scarcity are - supply and demand

______________________ is the point at which the forces of supply and demand meet ---the point

of balance. - Equilibrium

A/an_________________________interest is ownership of all of the rights in a property, except

those reserved by the government, and with no private encumbrances. - Fee Simple

In the appraisal process, data collection requires the assessor to collect - General Data,

Specific Data, Comparative Data

Which of the following is not one of the four great forces by which value is created,

maintained, modified or destroyed? - Conceptual