Professional Standards and Ethics Flashcards

Which ethical principle is most directly associated with state constitutional uniformity clauses in property taxation?

Answer: Treating similarly situated properties equitably in assessment

Uniformity clauses require that properties be assessed equitably so that the tax burden is fairly distributed.

An elected official pressures the assessor to lower assessments in a politically important neighborhood. What is the appropriate response?

Answer: Refuse and value property based on market evidence and law

Assessors must maintain independence and base values on objective evidence regardless of outside pressure.

For single-family residential property in older, heterogeneous areas, IAAO generally considers what COD range acceptable?

Answer: 5.0 to 15.0

The IAAO Standard on Ratio Studies recommends a COD of 5.0 to 15.0 for single-family residential property, with 5.0 to 10.0 for newer or homogeneous areas.

Under USPAP, if an appraiser receives an assignment with conditions that would limit the scope of work so results are not credible, the appraiser should:

Answer: Expand the scope, or withdraw if the client will not permit an adequate scope

Assignment conditions cannot be allowed to produce non-credible results, so the appraiser must address the scope or withdraw.

Which behavior best reflects the ethical obligation to deal fairly with taxpayers during an informal review?

Answer: Explaining valuation methods and the data used, and listening to the owner's evidence

Transparency about methods and openness to evidence are core to fair, professional treatment of taxpayers.

An assessor knowingly allows a subordinate to use outdated cost tables that misstate values. Under professional ethics, the assessor:

Answer: Is responsible for ensuring work under his supervision is not misleading

Professionals are responsible for the accuracy of work produced under their direction and must not communicate misleading results.

Which USPAP Ethics Rule provision prohibits an appraiser from communicating assignment results in a misleading or fraudulent manner?

Answer: The Conduct section

The Conduct section of the Ethics Rule prohibits misleading or fraudulent communications and requires impartiality and objectivity.