The definition of mass appraisal - Answers The systematic appraisal of groups of properties, as of a given
date, using standardized procedures and statistical testing.
Basic model for sales comparison approach - Answers MV=Sc+ADJc
Model Specification - Answers The determination of what data to include and in what format
Model calibration - Answers Determining the rates used in a model such as adjusting tables or schedules
to the current market
Basic model for cost approach - Answers MV=LV+BV
hybrid (additive/multiplicative) cost model - Answers MV=GQ*((Pl*LSIZE)+(Pb*BSIZE))
7 - Answers There are how many steps in the general appraisal process?
When it meets the expectations of parties who are regularly intended users of similar assignments. -
Answers When is the scope of work acceptable?
Define the valuation problem - Answers appraiser establishes the date of value opinion, defines the
value, and identifies the property rights to be appraised.
1. identify the problem to be solved
2. Determine and perform the scope of work necessary to develop a credible assignment
3. disclose the scope of work in the report - Answers 3 parts of the scope of work rule
Assessment System
Appeal System
Collection System - Answers The three components of a property tax system
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