Property Valuation
In Connecticut, a property owner who disagrees with their assessment may file an appeal with the:
AConnecticut Supreme Court
BLocal board of assessment appeals✓ Correct
CConnecticut Real Estate Commission
DFederal Housing Administration
Explanation
Connecticut property owners who disagree with their assessment must first appeal to the local board of assessment appeals (BAA) before pursuing an appeal in Superior Court.
Related Connecticut Property Valuation Questions
- In the income approach, 'potential gross income' is calculated by assuming:
- If a Connecticut income property has an NOI of $90,000 and the market cap rate is 6%, what is the estimated value using the income approach?
- In the sales comparison approach, a 'time adjustment' is made when:
- The cost approach is MOST reliable for appraising:
- The 'effective age' of a building used in the cost approach refers to:
- Which best describes the 'capitalization rate' (cap rate) used in the income approach?
- A Connecticut property has a market value of $525,000 and the assessed value is 70% of market value. The mill rate is 32. What are the annual property taxes?
- An appraisal report that provides a brief analysis with limited detail is called a(n):
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