Chapter 1 Flashcards
- What are the five recognized professional designations offered by the IAAO that represent the highest level of achievement in the field? __________ __________ __________ __________ __________.
PPS RES AAS CAE CMS
The theory of taxation that underlies taxation is that charges are imposed to support the government in exchange for the _______________ and ________________ afforded by the government to the citizens and their property.
General advantages and Protection
Under the ______________________ to the United States Constitution – the due process of law and equal protection of the law clauses – states cannot assert jurisdiction over property or persons unless there is some reasonable relationship between the tax imposed and the opportunity, benefits, and protection conferred or afforded by the taxing state.
XIV Amendment
Property tax and income tax are examples of a _______________ tax.
Direct
Sales tax and excise tax are examples of a ___________________tax.
Internal
Statutory guidelines legislative provides List the basic sources of provisions of law affecting assessment practices of the federal government, state governments, and local government agencies. 1. 2. 3. 4.
Legislative
Executive
Judicial Arms
Constitutional
History of taxation all taxes fall into broad categories:
direct and indirect, internal and external.
A direct tax
Income tax
An indirect tax
value added
External taxes
tariffs
Internal taxes
sale taxe
the Fifth Amendment of the Bill of Rights guarantees
the right of due process
the Fourth Amendment
forbids illegal search and seizure.
Under the right of due process, any citizen may
challenge a tax assessment in court regardless of the merits of the challenge.
Under the right forbidding illegal search and seizure
a citizen can limit to some degree the assessor’s ability to gather information necessary for the timely completion of assessment function
