Property Valuation
An appraiser performing a retrospective appraisal in Louisiana is estimating value as of:
AThe current date
BA date in the past, such as for an estate settlement or tax appeal✓ Correct
CA future date for a proposed development
DThe date the property was last sold
Explanation
A retrospective appraisal estimates value as of a past date — used for estate tax purposes, condemnation, insurance claims, or legal disputes where a historical value is needed.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
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