Property Valuation
An Oklahoma appraiser performing a retrospective appraisal for a date in the past must:
AUse current market data since conditions change
BUse only market data available as of the effective (historical) date of value, not data from after that date✓ Correct
CAverage current and past market data
DUse the tax assessed value as of the historical date
Explanation
A retrospective appraisal values property as of a past date (e.g.
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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.
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.
Math Concepts
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