Property Valuation
A 'retrospective appraisal' values a property:
AAt a future effective date
BAt a past effective date, often used in estate, tax, or litigation matters✓ Correct
CAt the current date only
DAt the average of past and present values
Explanation
A retrospective appraisal establishes market value as of a past date, commonly needed for estate tax returns, divorce settlements, or litigation where value at a prior date is relevant.
Related Georgia Property Valuation Questions
- In an appraisal, 'functional obsolescence' refers to:
- The principle of substitution states that:
- The 'effective age' of a building in appraisal refers to:
- A 'before and after' approach in appraisal is commonly used when:
- A Georgia appraiser is valuing a neighborhood convenience store. Which approach to value is most likely to be primary?
- Which of the following would be considered an arm's-length transaction for comparable sales purposes?
- In the sales comparison approach to value, the appraiser makes adjustments to the comparable sales. If a comparable lacks a feature that the subject property has, the appraiser should:
- An appraiser makes a final value conclusion by reconciling the three approaches. This process is called:
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