Monday, April 30, 2012

Chapter 11 Government Activity


by Mario Jauregui

True or False
Ad valorem value is the assessor’s estimate of a property’s market value for taxation purposes.

T



True or False
Tax Rate = Tax Digest Less Total Exemptions ÷ Budget Amount for Fiscal Year Less Anticipated Fee Collection

F: Tax Rate = Budget Amount for Fiscal Year Less Anticipated Fee Collection ÷ Tax Digest Less Total Exemptions




Multiple Choice
An appeal to a court for zoning relief by a property owner after administrative, legislative, or both types of relief have been denied.
(A) Zoning Variance
(B) Special Use Permit
(C) Administrative Change
(D) Judicial Change

D



Multiple Choice
An ___________________ is a relatively minor exception to zoning for a specific parcel of land.
(A) Legal Nonconforming Use
(B) Conformity
(C) Administrative Change
(D) Zoning
(E) Non of the above

C: Administrative Change



True or False
A conformity is a valuation principle that recognizes that property values are sustained or enhanced when a property conforms to its surrounding.

T



True or False
Property Tax Savings from Exemption = Exemption Amount + Tax Rate

F: Property Tax Savings From Exemption = Exemption Amount x Tax Rate



Multiple Choice
Assessment offices offer times during the year in which property owners can make an  ________________.
(A) Mass Valuation
(B) Assessment Appeal
(C) Ad Valorem Value
(D) All of the Above


B



True or False
An assessment ratio is the ratio of assessed value to the ad valorem market value estimate, generally 40% to 100% of the ad valorem estimate.

T

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