Which term is not a form of accrued depreciation? A. Direct/Indirect Cost B. Physical Deterioration C. Functional Obsolescence D. Functional Obsolescence-incurable

A. Direct/Indirect Cost

Your subject parcel and similar contiguous parcels are designed with large display areas. In valuing land what is the most appropriate unit of comparison?

Front Foot

Highest and Best Use is defined as?

That use that will generate the most profit for the property

The cost that mirrors the original building using the original design, materials, and workmanship is termed?

Reproduction Cost

In valuing land, which approach is best?

Market Approach

A common unit of comparison for large rural land tracts is?

Acre

What would have the greatest impact of developing the replacement cost new of a building?

Quality of materials and workmanship, size of improvement

According to Georgia Law, what is the deadline for filing a property tax return and homestead exemption in a county with no installment payment of taxes?

April 1 and June 1 respectively

The statistic used in a sales assessment ratio to measure uniformity or equity of assessment is called the?

Coefficient of Dispersion

The income approach is most appropriate to use when?

The anticipated future benefits of revenue is of primary importance

How many approaches to value are there?

Three

An estimate of value is called?

An appraisal

The most common characteristic of personal property is?

Is it moveable in nature?

Preferential and Conservation covenants are for the following term of years?

10 years

The lien date or date of valuation for ad valorem tax purposes is?

January 1

According to Georgia Law for counties with installment payment of taxes, an appeal must be filed within how many days of the date of notice?

45 days

According to the definition of Fair Market Value utilized in Georgia what is not a criteria for determining value?

Highest and Best Use

Personality is?

Personal Property

Which of the following items is not considered personal property? A. Built-in Coolers B. Store counters and shelves C. Cash Registers D. Inventory owned by a corporation

A. Built-in Coolers

The following forms of depreciation may be used in valuing land: A. Physical Deterioration B. Functional Obsolescence C. Economic Obsolescence D. None of the above

D. None of the above

A small acreage land schedule considers the parcel's desirability, size and?

Location

Which of the following personal property is exempt? A. Boats B. Personal Household Furnishings C. Finished Inventory D. None of the above

B. Personal Household Furnishings

How many square feet are in an acre?

43,560

Under conservation use regulations, a parcel must have a homesite area excluded containing: A. No Exclusion B. 1 to 5 acres C. Less than 1 acre D. No more than 10 acres

B. 1 to 5 acres

Per DOR regulations, the measure of central tendency to be used is?

Median

A large acreage rural land schedule considers all of the following except: A. Ponds B. Productivity C. Woodland/Open land area D. Depth Factor

D. Depth Factor

In the IRV formula, the I refers to?

Income

The formula for arriving at value using the income approach is?

V = I/R

The sales/assessment ratio is done to: A. Determine the correct sales price B. Measure level of assessment C. Measure Uniformity D. B and C

D. B and C

You have developed a COD of 25 from residential sales. This is an indication of?

The assessments are not uniform

Stocks and Bonds are a form of what type of personal property?

Intangible