Basic Appraisal Procedures Mckissock Test Questions With Verified Solutions 2024.

Each of these is a variable expense EXCEPT payroll utilities maintenance taxes {Ans: taxes Variable Expenses. Taxes are fixed expenses; the others are variable expenses.}In the sales comparison approach, we always adjust the _________; we never adjust the ____________. {Ans: comparable sales, subject property}A municipality assesses property at 100% of value. If a property is assessed at $155,000 and the rate per thousand is $12.80, how much are total property taxes? {Ans: $1,984}A ___________ home has a permanent steel chassis, wheels and axles. {Ans: manufactured}Which of the stages in the life cycle of a market area does not always occur? {Ans: revitalization}The method that estimates land value based on a percentage of the total property value is the _______________ method. {Ans: allocation}Footings need to be _______________ below average frost penetration levels. {Ans: at least 12 inches Foundation System. They need to be at least 12 inches below to prevent heaving as the frost melts.}The most common unit of comparison for land in rural areas is price per _______. {Ans: acre}A house cost $395,000 to build new. It is 5 years old and has sustained a total of 10% depreciation. It sits on