Property Valuation
A Maine appraiser is preparing an appraisal for a proposed subdivision. This type of appraisal is called:
AA retrospective appraisal
BA prospective appraisal (as of a future date)✓ Correct
CA current market analysis
DA cost approach only appraisal
Explanation
A prospective appraisal estimates the value of a property as of a future date, commonly used for proposed construction, subdivision development, or properties not yet in existence.
Related Maine Property Valuation Questions
- A Maine appraiser calculates depreciation on a 20-year-old building with an economic life of 50 years. Using straight-line depreciation, the depreciation percentage is:
- In the cost approach to appraisal, 'depreciation' refers to:
- Which type of depreciation is NOT recoverable through repairs or renovation of the property?
- The sales comparison approach to value is MOST appropriate for appraising:
- In Maine, 'effective age' in appraisal refers to:
- In Maine, the homestead exemption reduces the assessed value of a primary residence by:
- In Maine real estate appraisal, 'market value' is best defined as:
- In Maine, a certified residential appraiser may appraise:
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