Classification A -

Agricultural

Classification B -

Brownfield Property

Classification C -

Commercial

Classification H -

Historic

Classification I -

Industrial

Classification P -

Preferential

Classification R -

Residential

Classification T -

Residential Transitional

Classification U -

Utility

Classification V -

Conservation Use

Classification W -

Environmentally Sensitive

Classification F -

FLPA Base Market Value Assessment

Classification J -

FLPA Conservation Use Property

Second Digit Strata 1 -

Improvements

Second Digit Strata 2 -

Operating Utility

Second Digit Strata 3 -

Lots

Second Digit Strata 4 -

Small Tracts

Second Digit Strata 5 -

Large Tracts

Second Digit Strata 6 -

Production/Storage/Auxiliary

Second Digit Strata 9 -

Other Real

Personal Property Strata A -

Aircraft

Personal Property Strata B -

Boats

Personal Property Strata F -

Furniture/Fixtures/Machinery/Equipment

Personal Property Strata I -

Inventory

Personal Property Strata P -

Freeport Inventory

Personal Property Strata Z -

Other Personal

Property in Georgia is assessed at what percent of Fair Market Value for taxation?

40%

All real parcels should be reviewed at least once every how many years?

3

The acceptable standard level of assessment is between?

0.95 - 1.10

The acceptable standard for uniformity is a coefficient of less than what percent for residential properties?

15%

The acceptable standard for uniformity is a coefficient of less than what percent for commercial properties?

20%

The acceptable standard for assessment bias is within a range of?

0.36 - 0.44

Fair Market Value multiplied by what equals assessed value?

.40

Timber is taxed at the time of?

Harvest, or sale

The three approaches to value are?

Market, Cost, Income

The four forces that affect value are?

Physical, Economical, Governmental, Social

RCN - D + L = Value is the formula for which approach to value?

Cost

Mean Deviation divided by Median equals?

Coefficient of Dispersion (COD)

Mean divided by the Aggregate ratio equals?

Price Related Differential (PRD)

Total Assessment divided by Total Sales Price equals?

Aggregate Ratio

Individual Assessment divided by Individual Sale Price equals?

Sales Ratio

Sales Ratio minus the Median equals?

Deviation from the Median

What is the principle used in the Cost Approach?

Substitution

What is the principle used in the Income Approach?

Anticipation

What is the principle used in the Market Approach?

Contribution