Podcast
Questions and Answers
The four factors affecting land values are as follows:
The four factors affecting land values are as follows:
- Demographic, Political, Social, Financial
- Technological, Environmental, Cultural, Legal
- Physical (environmental), Economic, Governmental, Social (correct)
- Geographic, Financial, Community, Historical
The Principle of _____________ states that returns to land are what remain after returns to labor, management, and capital are satisfied.
The Principle of _____________ states that returns to land are what remain after returns to labor, management, and capital are satisfied.
- supply and demand
- surplus productivity (correct)
- change
- anticipation
List the six methods of land valuation:
List the six methods of land valuation:
- Market analysis, Allocation, Replacement, Anticipated profit, Rental analysis, Depreciation method
- Cost analysis, Income approach, Market adjustment, Depreciation, Gross land assessment, Utility value
- Direct sales comparison, Allocation, Abstraction, Anticipated use or development, Capitalization of ground rent, Land residual technique (correct)
- Construction cost, Allocation, Comparative sales, Replacement, Land use adjustment, Market estimation
A complete set of __________ maps showing boundaries, parcel size, sales information, and other relevant features of all parcels in a jurisdiction is a necessary tool for assessors.
A complete set of __________ maps showing boundaries, parcel size, sales information, and other relevant features of all parcels in a jurisdiction is a necessary tool for assessors.
The practice of measuring the direction of property lines with compass bearings and the distance with measuring chains or tapes in order to obtain a property description is known as _________________________.
The practice of measuring the direction of property lines with compass bearings and the distance with measuring chains or tapes in order to obtain a property description is known as _________________________.
A township in the Public Land Survey System contains _________ sections, with each section containing _________ acres.
A township in the Public Land Survey System contains _________ sections, with each section containing _________ acres.
Using the Public Land Survey System, the shaded portion of land labeled "A" above is described as the ___________.
Using the Public Land Survey System, the shaded portion of land labeled "A" above is described as the ___________.
The shaded area in the previous question contains _________ acres.
The shaded area in the previous question contains _________ acres.
When land is valued by using the direct sales comparison approach, sales must first be ______________ into homogeneous groups.
When land is valued by using the direct sales comparison approach, sales must first be ______________ into homogeneous groups.
Improvements such as streets, sidewalks, and the availability of utilities are considered _______________ improvements.
Improvements such as streets, sidewalks, and the availability of utilities are considered _______________ improvements.
Which method of land valuation compares the property being appraised to comparable vacant parcels that have recently sold?
Which method of land valuation compares the property being appraised to comparable vacant parcels that have recently sold?
Front foot, square foot, and acre are examples of basic _________________.
Front foot, square foot, and acre are examples of basic _________________.
In the direct sales comparison approach to land valuation, adjustments are always made to the _______________ property, never to the __________ property.
In the direct sales comparison approach to land valuation, adjustments are always made to the _______________ property, never to the __________ property.
If a comparable lot that sold is superior in some aspect to the subject lot, a __________ adjustment would be made to the comparable property.
If a comparable lot that sold is superior in some aspect to the subject lot, a __________ adjustment would be made to the comparable property.
A method of valuing land that subtracts the depreciated value of the improvement from the sale price is known as _____________.
A method of valuing land that subtracts the depreciated value of the improvement from the sale price is known as _____________.
The preferred method of valuing land if adequate data is available is the:
The preferred method of valuing land if adequate data is available is the:
A land-to-building ratio of 1:4 means land represents __________ percent of the value.
A land-to-building ratio of 1:4 means land represents __________ percent of the value.
The appropriate map scale for suburban areas and small towns is __________.
The appropriate map scale for suburban areas and small towns is __________.
The appropriate map scale for rural areas is __________.
The appropriate map scale for rural areas is __________.
The property account number, linking ownership records, tax maps, and assessment records, is known as the __________.
The property account number, linking ownership records, tax maps, and assessment records, is known as the __________.
Land that has been developed to the extent that it is ready to be built upon is considered a __________.
Land that has been developed to the extent that it is ready to be built upon is considered a __________.
The concept of __________ means that the market value of vacant land depends on potential use rather than current use alone.
The concept of __________ means that the market value of vacant land depends on potential use rather than current use alone.
Factors affecting land values such as size, topography, and location are termed __________ factors.
Factors affecting land values such as size, topography, and location are termed __________ factors.
Flashcards are hidden until you start studying
