Property Valuation
The principle of progression in Iowa appraisal states:
AA lower-value property benefits from being located near higher-value properties✓ Correct
BHigher-value properties are negatively affected by lower-value neighbors
CProperty values always increase over time
DNew construction always exceeds the value of older comparable properties
Explanation
The principle of progression holds that the value of a less desirable property is positively influenced by the presence of more valuable, better-quality neighboring properties.
Related Iowa Property Valuation Questions
- An Iowa income property has an NOI of $48,000 and is valued at $600,000. What is the capitalization rate?
- Iowa farmland with a CSR2 of 85 typically commands a premium over land with a CSR2 of 50 primarily because:
- In the cost approach, the estimated value of land is:
- In Iowa, an assessor's determination of 'actual value' for property tax purposes is considered:
- Iowa's agricultural land values have historically been most correlated with:
- Iowa's property tax appeal to the Property Assessment Appeal Board (PAAB) is appropriate when:
- In Iowa, which property type would typically NOT be appraised using the sales comparison approach as the primary method?
- Iowa's Agricultural Land Tax Exemption (productivity assessment) for farmland means:
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