Property Valuation
In Nebraska, the assessment ratio for property tax purposes is the relationship between:
AThe appraiser's fee and the property's market value
BThe county assessor's assessed value and the property's market value✓ Correct
CThe tax rate and the property owner's income
DThe mill rate and the state budget
Explanation
The assessment ratio is the percentage of market value at which property is assessed. If a property's market value is $200,000 and the assessed value is $160,000, the assessment ratio is 80%.
Related Nebraska Property Valuation Questions
- The sales comparison approach to property valuation is most appropriate for:
- An appraisal for a federally related mortgage transaction in Nebraska requires the appraiser to include a:
- The income approach to valuation is LEAST appropriate for which type of Nebraska property?
- In Nebraska farmland valuation, which factor has the greatest impact on per-acre value?
- Functional utility in property valuation refers to a property's:
- A Nebraska appraiser determines functional obsolescence in an older home because it has only one bathroom for a 4-bedroom home. This is:
- A Nebraska appraiser identifies an external obsolescence affecting a residential property near a newly constructed highway. External obsolescence is:
- External obsolescence (economic obsolescence) in an appraisal is caused by:
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