Property Valuation
In New York, 'reconciliation' in the appraisal process means:
AAdjusting the appraised value for tax purposes
BThe appraiser's process of analyzing and weighing the results of the three approaches to value to arrive at a final value conclusion✓ Correct
CComparing the appraisal to the purchase price
DVerifying that the property description matches the deed
Explanation
Reconciliation is the final step in the appraisal process where the appraiser analyzes and gives appropriate weight to the results of each applicable approach to value (cost, sales comparison, income) and arrives at a single, final value estimate. The appraiser considers the reliability and applicability of each approach for the specific property.
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