Property Valuation
Iowa's Corn Suitability Rating 2 (CSR2) is a soil index used primarily to:
ADetermine residential property tax rates
BRate soil productivity for agricultural purposes, which directly influences farmland value✓ Correct
CMeasure environmental contamination levels
DCalculate commercial property depreciation
Explanation
Iowa State University's CSR2 index rates soil productivity on a scale of 0-100 based on soil type, slope, and erosion characteristics. A higher CSR2 rating indicates more productive farmland and generally correlates with higher farmland values.
Related Iowa Property Valuation Questions
- When using the sales comparison approach, an appraiser makes adjustments to comparable sales prices because:
- The principle of anticipation in Iowa appraisal holds that:
- An Iowa appraiser is calculating the cost approach for a property. The replacement cost is $280,000, accrued depreciation is $42,000, and land value is $55,000. What is the appraised value?
- Iowa's mass appraisal system used by county assessors differs from a fee appraisal in that:
- An Iowa appraiser reconciles the three approaches to value and gives the income approach 60% weight, sales comparison 30%, and cost approach 10% for a large apartment complex. This is appropriate because:
- Iowa property is assessed at what percentage of its actual value for most residential properties?
- In a capitalization rate analysis, if an Iowa investment property has a NOI of $30,000 and the market cap rate is 6%, the indicated value is:
- An Iowa appraiser is asked to determine the 'as-is' value of a property with deferred maintenance. This value reflects:
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