Property Valuation
An appraiser in Kentucky assigns more weight to one approach over the others in a report. This is:
AA violation of USPAP
BAcceptable if the appraiser provides reasoning for the weighting✓ Correct
CPermissible only for commercial properties
DRequired for all residential appraisals
Explanation
An appraiser may weight one approach over others if it is supported by market evidence and the appraiser provides adequate justification in their report. USPAP does not require equal weighting.
Related Kentucky Property Valuation Questions
- The principle of substitution holds that:
- A Kentucky agricultural property's value may be primarily determined by:
- An appraiser adjusts a comparable sale in Lexington upward by $5,000 because the comparable lacks a garage that the subject property has. This indicates:
- Which type of property would most likely be appraised using the income approach?
- Which appraisal approach is most commonly used for single-family residential homes?
- The principle of substitution in Kentucky property valuation states:
- In Kentucky, the PVA (Property Valuation Administrator) is responsible for:
- Functional obsolescence caused by a feature that the market no longer desires, such as small closets in a Louisville home, is an example of:
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