Explanation should include

DPOR correlations: 18VAC135-20-400. 2 (Real estate market and analysis); 18VAC135-20-400. 13 (Taxes in real estate)

Process/Skill Questions:

How does a taxing district’s adoption of an annual budget impact real estate taxes?
How does the need for new schools influence a locality's need to increase taxes?
How are taxes levied on real estate determined?
What entities are granted exemptions from real estate taxes?
How do changes in the market affect taxation rates?
What are the factors that affect changes in real estate assessments?
When do assessments take place and by whom?