In North Dakota, the local official primarily responsible for determining the assessed value of real property for tax purposes is known as the:
Correct Answer
B) County assessor
Under North Dakota Century Code Chapter 57-02, the county assessor (or city assessor in certain municipalities) is the local official charged with discovering, listing, and valuing all taxable property within the jurisdiction for ad valorem property tax purposes. The assessor establishes assessed values that form the basis of property tax calculations.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Many states have laws to limit how much property taxes can increase each year, regardless of market value fluctuations.
Various programs and exemptions exist to reduce the property tax burden for specific groups, such as seniors, homesteaders, or veterans.
A transfer tax is a tax imposed on the transfer of ownership of real estate.
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- → The income approach to appraisal is most commonly used for which type of property?
- → Which formula correctly calculates the capitalization rate?
- → External obsolescence in Oklahoma:
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- → Which of the following correctly lists the three types of depreciation recognized in real estate appraisal?
- → The sales comparison approach to appraisal is most commonly used for which type of property?
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- → Three depreciation:
- → Cap rate:
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