Colorado's 'Board of Assessment Appeals' (BAA) hears property valuation disputes when:
Why A property owner has already exhausted the county-level appeal process and wants further review of their assessed value Is Correct
Answer B: A property owner has already exhausted the county-level appeal process and wants further review of their assessed value
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
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Key Terms to Know
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Math Concepts
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