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13 Cards in this Set
- Front
- Back
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A ratio study compares these two things |
The RMV of property on the tax roll to current sales prices |
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The assessment date for most real and personal property begins on this day |
January 1 |
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The start of a tax/fiscal year is on this date |
July 1 |
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When planning the appraisal program, analyze the policies and procedures of the current appraisal program by reviewing the following three things |
Office procedures, Field procedures, and policies |
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What does COD stand for? |
Coefficients of dispersion which indicate a lack of uniformity |
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What does COD stand for? |
Coefficients of dispersion which indicate a lack of uniformity |
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This measure eliminated regular reappraisal’s for many counties |
Measure 50 |
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What does COD stand for? |
Coefficients of dispersion which indicate a lack of uniformity |
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This measure eliminated regular reappraisal’s for many counties |
Measure 50 |
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What’s the most amount of time a physical appraisal should go before getting another? |
10 years |
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What does LCM stand for? |
Local cost modifier. This is information from builders, sales of new homes, building supply houses, and government indexes that are used to establish the LCM which brings factor book cost in line with local market cost |
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Sales are analyzed to determine the overall rate applicable to income producing properties. Recapture and tax rates are extracted from the sales. What is this known as? |
Capitalization rates |
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What does GIM stand for? |
Gross income multiplier which analyzes the sale to income ratio to determine the GIMs to use on various properties |
