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ch.17-20 florida realestate pawlicki


undefined, object
copy deck
an increase in value.
Anything of value.
balance sheet
A financial report that shows the company's financial position at a stated moment in time.
cash flow
the resulting amount when annual debt service, tax, liability, and capital improvement costs are subtracted from net operating income.
dynamic risk
the risk that arises from the continual change in the business environment and therefore dynamic risk cannot be transferred to an insurer.
The market value of a property lass any debt against it; in a business entity, assets minus liabilities equals capital (owner's equity); a system of legal rules administered by a court of chancery.
going concern value
the worth of a business, including real estate, good will, and earning capacity.
An intangible asset (value) of a business.
income statement
a summary of all income and expenses of a business for a stated period of time.
The outlay of money in anticipation of income or profit; the sum risked or the property purchased.
investment value
the worth of a property to a particular investor based on his and her desired rate of return, risk tolerance, etc.
The use of borrowed funds to finance the purchase of an asset; the use of another's money to make more money.
the ability to convert non cash assets into cash quickly; refers to a firm's cash position and its ability to meet obligations.
A method of pooling investment money using the trust form of ownership.
replacement cost
The expenditure of constructing a building with current materials and techniques that has the same functional utility as the structure being appraised.
reproduction cost
Amount required to duplicate the property exactly.
the chance of loss of all or part of an investment; the uncertainty of financial loss.
static risk
Risk that can be transferred to an insurer such as the risk of vandalism, fire, and so forth.
adjusted basis
the owner's original cost plus buying expenses plus capital improvements.
ad valorem
according to the value; in proportion to worth.
assessed value
Worth established for each unit of real property for tax purposes by a county property appraiser.
Money or other property that is not like-kind, which is given to make up any difference in value or equity between exchanged properties.
capital gain
the profit from the sale of an asset, including real property.
A lose in value for any reason; a deduction for tax purposes.
Property that has been decreed to be excluded from taxation or claim by others.
green belt law
legislation that authorizes county property appraisers to assess land used for agricultural purposes according to its current value as agricultural land.
Real property that is owned by a unit of government and is not subject to taxation.
just value
the fair market value.
a unit of money used to specify a property tax rate ($1 for each $1,000 or taxable value)
partially exempt
Property subject to taxation, but the owner is partially relieved of the burden
special assessment
taxes levied against properties to pay for all, or part of, improvements that will benefit the properties being assessed.
taxable value
the assessed value less allowable exemptions resulting in an amount to which the tax rate is applied to determine property taxes.
tax shelter
an investment that shields items of income or gain from payment of income taxes; a term used to describe some tax advantages of owning real property
(or other investments),including postponement or even elimination of certain taxes.
buyer's market
The supply of available properties exceeds the demand.
the quantity of goods or services wanted by consumers.
One individual, or a group of individuals, living in one dwelling unit.
seller's market
the demand for available properties exceeds the supply.
The quantity of goods or services offered for sale to consumers.
vacancy rate
The percentage of rental units that are not occupied.
base industries
Businesses that attract outside money into the area; primary.
buffer zone
a strip of land separating one land use from another.
building codes
government ordinances regulating construction practices and materials.
certificate of occupancy
An occupancy permit issued by the local government after construction is completed and the final inspection is approved.
a provision in Florida's Growth Management Act that mandates that the infrastructure, such as roads and water treatment facilities needed to support additional population, be in place before a new development is allowed.
economic base studies
an analysis of employment in the primary industries of a region.
health ordinances
Local codes that regulate maintenance and sanitation of public spaces.
nonconforming use
Continuing land use that is not in compliance with zoning ordinances.
planned unit development (PUD)
a residential project with mixed land uses and high residential density.
service industries
Businesses that attract local money (e.g. grocery stores, retail shops).
special exception
An individual ruling in which a property owner is granted the right to a use otherwise contrary to law.
An exception to zoning regulations or ordinances granted to relieve a hardship.
zoning ordinances
Classification of real property for various purposes; the government power to control and supervise the utilization of privately owned real property (actually, the exercise of police powers).

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