Property Valuation (alternative)
In Maryland, a 'mass appraisal' conducted by SDAT differs from an individual property appraisal because:
AIt involves physical inspection of every property
BIt values groups of similar properties using statistical models and uniform methodologies to achieve fair assessment of all properties✓ Correct
CIt only applies to commercial properties
DIt uses the income approach exclusively
Explanation
Mass appraisal (used by SDAT for property tax assessments) values large groups of properties uniformly using statistical modeling and standard methodologies, without individual property inspections.
Related Maryland Property Valuation (alternative) Questions
- A Maryland investor uses a 'discounted cash flow' (DCF) analysis for a commercial property. The DCF analysis:
- An appraiser in Maryland determining the highest and best use of a property would consider:
- In Maryland, the income capitalization approach values property by:
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- A Maryland appraiser uses three comparable sales to value a property. After adjustments, the indicated values are $310,000, $315,000, and $320,000. The appraiser's final estimate of value is likely:
- In Maryland, which approach to value is NOT typically used for vacant land?
- When an appraiser uses the cost approach for a newly constructed Maryland home, the land value is:
- In Maryland, the term 'as-improved' value in an appraisal means:
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