Property Valuation
What is a 'mass appraisal' and how does it relate to Kansas county property tax assessment?
AAn appraisal of multiple properties by one appraiser
BThe systematic appraisal of large numbers of properties using standardized methods and statistical models, used by Kansas county appraisers for property tax assessments✓ Correct
CA bulk appraisal for investment portfolio purposes
DAn appraisal ordered by a court for eminent domain cases
Explanation
Mass appraisal uses statistical models and standardized methods to value large numbers of properties simultaneously. Kansas county appraisers use mass appraisal to assess all properties in their county for property tax purposes.
Related Kansas Property Valuation Questions
- What is 'depreciation' in real estate appraisal and what are its three types?
- What is a 'restricted appraisal report' in Kansas?
- A Kansas appraiser performing a 'drive-by' appraisal (exterior-only) provides:
- The principle of substitution states that a buyer will pay no more than:
- In Kansas, 'market value' is best defined as:
- The principle of conformity in Kansas real estate appraisal holds that:
- When using the sales comparison approach, a Kansas appraiser adjusts the value of comparable sales by:
- The principle of regression in Kansas real estate states that:
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