Property Valuation
What is 'retrospective appraisal' in Kansas real estate and when might it be needed?
AAn appraisal predicting future value
BAn appraisal establishing value as of a past date, used for estate tax purposes, litigation, condemnation, or tax protest involving a prior assessment date✓ Correct
CAn appraisal updating a previous report
DAn appraisal ordered after a sale closes
Explanation
A retrospective appraisal establishes what a property was worth at a past date. Kansas uses are common in estate settlements, property tax protests (appealing prior year assessments), eminent domain cases, and insurance claims.
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