Wednesday, April 25, 2012

Gonzalo Manriquez
Fin 180
Student Created Objective Questions
CH 11

1. The most important aspect of our society’s development, and global competitiveness is?
     a) roads
     b) utilities
     c) education
     d) law enforcement

2. Assessment offices often use _____ to conduct valuations, which are not necessarily accurate estimates of current market values.
     a) Ad valorem value
     b) Taxable value
     c) Assessment ratio
     d) Mass Valuation

3. The final steps in property tax administration include,
     a) Billing and collection
     b) Special Assessment
     c) Overview of the process
     d) Exemptions

4. In addition to roads and utilities, government responsibility has expanded to education.
     a) T
     b) F

5. Assessors rarely have time or resources to conduct evaluations using all three traditional approaches to value.
     a) T
     b) F

6. The homestead exemption may be available to temporary and permanent residents. 
     a) T
     b) F

7. Property tax due, is equal to Taxable value times Millage rate.
     a) T
     b) F

8. Zoning is one of the most powerful rights a municipality has to implement in the comprehensive plan.
     a) T
     b) F

Answers: 1) c, 2) d, 3) a, 4) T, 5) T, 6) F, 7) T, 8) T

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