A NC property owner who disagrees with their county's property tax assessment may file an appeal with:
Why The county Board of Equalization and Review Is Correct
Answer B: The county Board of Equalization and Review
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
People Also Study
Related North Carolina Questions
- Under NC law, a property owner who disagrees with a local zoning board decision may appeal to:Land Use & Zoning
- A property owner in NC who believes the local board of adjustment made an error in denying a variance may appeal to:Land Use & Zoning
- Which type of depreciation in real estate CANNOT be cured by the owner?Property Valuation
- In NC, county property tax assessments are supposed to reflect what percentage of market value?Property Valuation
- A NC appraiser who is hired by a buyer's lender has their primary client relationship with:Property Valuation
- In NC, a 'mass appraisal' is performed by county assessors for:Property Valuation
Key Terms to Know
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Math Concepts
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →