Real Estate QUIZMASTER

Real Estate QUIZMASTER Site Assessment Definitions Analytical Acronyms Numerical 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Definitions for 100 • This statement initially included an assessment of the ecological impact of proposed development and now must also include archeological impacts “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Definitions for 200 • The regulation of • permitted land uses, as • well as minimum or • maximum structures upon • geographically defined • contiguous districts “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Definitions for 300 • The personal residence • reduction in assessed • value for the purpose of • determining property • taxes “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Definitions for 400 • The rate by which the net assessed value of a property is multiplied to yield the ___________ due is called the Millage Rate “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

DAILY DOUBLE “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Daily Double Definitions for 500 • A series of standards and specifications designed to establish minimum safeguards in the erection and constrn. of buildings “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 100 • One of the primary rationales for government interference in the real estate market is that markets are _______ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 200 • Historic structure rehab did not occur in spite of providing tax credits primarily because of ______ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 300 • The original economic purpose of zoning was to minimize _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 400 • The largest local expenditure supported by property tax is for __________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Analytical for 500 The result of the mismatch which occurs when the beneficiaries of local public _______ do not always incur the cost of supporting the public services, is called Fiscal Redistribution “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Acronyms for 100 • T I F “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Acronyms for 200 • N E P A “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Acronyms for 300 • A D A “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Acronyms for 400 • N I M B Y “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Acronyms for 500 • C E R C L A “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 100 1 mill equals ____% of assessed value “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 200 If the assessment ratio is 35% for personal residences, then the assessed value of a house with appraised market value of $200,000 is _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 300 • If the millage rate of the city, county and schools are 0.005, 0.010 and 0.015 respectively, then the total millage rate is “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Numerical for 400 • If the assessed value of a property is $100,000 and the Total Millage Rate is 0.040, then the property taxes due each year will be _________ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

If the actual Property Taxes due are $10,000, and the appraised market value of the property is $700,000, then the Effective Property Tax Rate = ______% Numerical for 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Site Assessment for 100 • As a result of CERCLA, there are ____ defined stages of reports and actions “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Site Assessment for 200 The purpose of a ____ report is to test and verify the extent of actual contamination “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Site Assessment for 300 • The purpose of a ______ report is to determine whether there is evidence of past or current environmental problems on the subject site “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Site Assessment for 400 • A _______ study is an actual action plan that usually includes remedial cleanup efforts “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Site Assessment for 500 • A _______ report is now required by all commercial mortgage lenders prior to approving financing “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Real Estate QUIZMASTER