Property Valuation
When a Colorado appraiser is asked to provide a 'retrospective appraisal' (value as of a past date), they must:
AA. Use only current market data regardless of the valuation date
BB. Use market data that was available as of the effective date of value, not subsequent data that was unavailable at that time✓ Correct
CC. Always produce a lower value than current market value
DD. Decline the assignment as it violates USPAP
Explanation
A retrospective appraisal provides an opinion of value as of a past date (used for tax purposes, estate settlement, litigation, etc.). The appraiser must use market data and conditions as they existed at the historical effective date — not subsequent data that was unknown at the time. This is permitted under USPAP and is a recognized type of appraisal assignment.
Related Colorado Property Valuation Questions
- USPAP (Uniform Standards of Professional Appraisal Practice) requires all licensed Colorado appraisers to:
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