Property Valuation
Assessed value in Alaska municipalities is used to:
AEstablish the property's listing price
BCalculate ad valorem (property) taxes✓ Correct
CDetermine the appropriate mortgage amount
DSet insurance replacement cost
Explanation
Assessed value is the value determined by the local tax assessor for the purpose of calculating property taxes (ad valorem taxes — taxes according to value). It may differ significantly from market value.
Related Alaska Property Valuation Questions
- An Alaskan property with an NOI of $75,000 is valued at $1,000,000. The overall capitalization rate is:
- In the sales comparison approach, 'paired sales analysis' is used to:
- In Alaska, economic life of a building refers to:
- Which of the following is TRUE about the principle of conformity in real estate appraisal?
- What does the Gross Rent Multiplier (GRM) method of valuation use to estimate property value?
- Obsolescence caused by a zoning change that allows an incompatible use adjacent to a residential property in Alaska is an example of:
- Under USPAP, an Alaska appraiser who has a financial interest in a property they are appraising must:
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