Property Valuation
Which approach to value is most commonly used by SDAT to assess residential property in Maryland?
AIncome approach
BCost approach
CSales comparison approach✓ Correct
DCapitalization rate approach
Explanation
SDAT primarily uses the sales comparison (market data) approach to assess residential properties based on comparable sales.
Related Maryland Property Valuation Questions
- Land valuation in the cost approach uses:
- Reconciliation in a Maryland appraisal means:
- In the sales comparison approach, an appraiser makes adjustments to comparables for differences. If a comparable has a feature the subject does NOT have, the adjustment to the comparable is:
- The cost approach to value calculates:
- A Maryland appraiser uses paired sales analysis to:
- The market value of a Maryland property is best defined as:
- In Maryland, a property owner who disagrees with their SDAT assessment may appeal to:
- Exposure time in a Maryland appraisal refers to:
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