Property Valuation
The 'sales ratio study' conducted by the Nebraska Property Tax Administrator compares:
AThe sale price to the listing price for homes sold in a county
BThe assessed value to the sale price of recently sold properties to evaluate assessment uniformity✓ Correct
CCommission rates to sale prices across counties
DAppraisal values to assessed values for appeal purposes
Explanation
Nebraska conducts sales ratio studies comparing assessed values to actual sale prices of comparable properties. This helps ensure assessments are equitable and close to market value, supporting the state equalization process.
People Also Study
Related Nebraska Questions
- A Nebraska property's assessed value is $195,000. The assessment ratio is 100% of market value. The mill rate is 22 mills. Annual property taxes are:Real Estate Math
- A Nebraska home is assessed at 100% of market value of $310,000. The tax rate is 2.25%. What are the annual property taxes?Real Estate Math
- A Nebraska home has a market value of $275,000 and is assessed at 90% for property tax purposes. The tax rate is 2.1%. Annual taxes are:Real Estate Math
- A Nebraska property's market value is $380,000. It is assessed at 92% of market value with a mill rate of 17. Annual property taxes are:Real Estate Math
- Nebraska's property tax appeal process allows property owners who believe their assessed value is too high to:Property Valuation
- When using the sales comparison approach in Nebraska, an appraiser adds $8,000 to the comparable sale because the comparable LACKS a feature the subject has. This is called a:Property Valuation
- A Nebraska appraiser notes a comparable sale occurred 8 months ago. Current market conditions have appreciated 3% since then. The appraiser should apply a:Property Valuation
- An appraiser comparing a subject property to a comparable that sold 18 months ago would need to make a time (market conditions) adjustment because:Property Valuation
Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Math Concepts
Study This Topic
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →