Property Valuation
An appraiser who is asked to value a property for an estate sale must be careful that the value is as of:
AThe current date of the appraisal report
BA specified effective date — often the date of death for estate tax purposes✓ Correct
CThe date the property was originally purchased
DThe date the estate was opened in probate
Explanation
Estate appraisals for federal estate tax purposes must be as of the date of death (or alternate valuation date). The effective date is critical — the appraiser reports value as of a historical date, not the current date.
Related Nebraska Property Valuation Questions
- In Nebraska, the assessment ratio for property tax purposes is the relationship between:
- Effective gross income (EGI) in the income approach is calculated as:
- Gross Rent Multiplier (GRM) is calculated as:
- An appraiser comparing a subject property to a comparable that sold 18 months ago would need to make a time (market conditions) adjustment because:
- A Nebraska appraiser is hired to estimate the value of a farm with irrigation rights. The irrigation rights:
- A Nebraska appraiser is determining the depreciation on a 20-year-old building with an economic life of 50 years. Using the straight-line method, the depreciation percentage is:
- The term 'Desk Review' in Nebraska appraisal practice refers to:
- Depreciation in the cost approach to appraisal is divided into three categories. Which of the following is an example of 'physical deterioration'?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →