Property Valuation
In Georgia, property is assessed for tax purposes at what percentage of fair market value?
A25%
B40%✓ Correct
C50%
D100%
Explanation
Georgia law requires that property be assessed at 40% of its fair market value for ad valorem tax purposes.
Related Georgia Property Valuation Questions
- In an appraisal, a comparable sale that is superior to the subject property requires the appraiser to:
- The cost approach to value is most reliable for:
- A broker's price opinion (BPO) is most commonly used by:
- The principle of substitution states that:
- Physical deterioration in the cost approach is divided into:
- Effective age of a building refers to:
- An appraiser makes a final value conclusion by reconciling the three approaches. This process is called:
- A Comparative Market Analysis (CMA) is prepared by a real estate agent primarily to help a seller determine:
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