Property Valuation
A Florida appraiser performing a 'retrospective appraisal' is determining:
AThe current market value
BThe value of a property as of a specific past date (e.g., for estate tax or litigation purposes)✓ Correct
CThe future value based on income projections
DThe replacement cost at today's prices
Explanation
A retrospective appraisal establishes the value of a property as of a historical date — for purposes such as estate tax filings, divorce proceedings, insurance claims, or litigation. The appraiser must use market data available as of the effective date in the past.
Related Florida Property Valuation Questions
- The 'plottage' principle in real estate valuation means that:
- A Florida appraiser uses 'bracketing' in the sales comparison approach. This means:
- In Florida, the principle of 'contribution' in real estate appraisal states that:
- A Florida appraiser uses the 'gross building area' (GBA) in the cost approach for a commercial building. GBA differs from 'net rentable area' (NRA) in that GBA:
- The income approach to value is most commonly used for which type of Florida property?
- A Florida neighborhood is experiencing 'filtering' in the housing market. This means:
- In Florida, which type of property would most benefit from the 'cost approach' to valuation?
- An appraiser finds that a comparable home sold for $285,000 but has an extra half bathroom that the subject property lacks. If a half bathroom contributes approximately $3,500 to value, what adjusted sale price is used for comparison?
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