Maricopa Community Colleges  REA211   20042-20086 
Official Course Description: MCCCD Approval: 07/22/08
REA211 20042-20086 LEC 3 Credit(s) 3 Period(s)
Real Property Assessment II
Advanced work in real property assessment, including the appraisal process, property taxation, statutory duties, property classifications and descriptions and reassessment issues.
Prerequisites: REA210.
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MCCCD Official Course Competencies:
 
REA211   20042-20086 Real Property Assessment II
1. List and compare components of a property tax system. (I)
2. Calculate property tax rates. (II)
3. Describe general case law as it pertains to statutory duties of a property tax assessor. (III)
4. Compare and contrast between mass appraisal and single property appraisal in the appeal process. (IV)
5. List and explain the technical requirements for reassessment valuations. (V)
6. Utilize computer systems to locate assessor property descriptions. (VI)
7. Identify the steps in the appraisal process and apply the income, cost and market approaches. (VII)
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MCCCD Official Course Outline:
 
REA211   20042-20086 Real Property Assessment II
    I. Property tax system
        A. Residential classification
        B. Commercial classification
        C. Special use classification
        D. Industrial classification
        E. Land classification
      II. Property tax rates
          A. Classification
          B. Governmental statutory guidelines
          C. Effective tax rate
          D. Capitalization rate
        III. Property tax assessor statutory duties
          IV. Appeal process
              A. Mass appraisal specifications
              B. Single property appraisal characteristics
            V. Reassessment valuation
                A. Splitting of properties
                B. Combining of properties
              VI. Computerized assessor property description systems
                  A. Parcel size, footage, value
                  B. Building size, footage, value
                  C. Amenities
                VII. Appraisal process
                    A. Identify purpose of appraisal
                    B. Timeline and observation records
                    C. Research historical property records
                    D. Compile property records
                    E. Correlate property records and apply income, cost and market approaches
                    F. Summarize approaches data and estimate property fair market value
                    G. Write narrative report and present to client
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