Property Valuation
Pennsylvania's Board of Assessment Appeals allows property owners to challenge their assessment. The owner bears the burden of proving:
AThat the assessor made a mathematical error only
BThat the assessed value exceeds the property's fair market value (or exceeds the applicable assessment ratio)✓ Correct
CThat neighboring properties were assessed lower
DThat the county did not follow USPAP in conducting the assessment
Explanation
In a Pennsylvania assessment appeal, the property owner must demonstrate that the assessed value is excessive — either by showing it exceeds fair market value or that the assessment ratio applied to their property differs unfairly from the common level ratio used in the county. Evidence includes recent sales, appraisals, and comparable assessments.
Related Pennsylvania Property Valuation Questions
- What is a 'plottage increment' (assemblage value) in real estate and how might it affect a Pennsylvania urban property?
- When making an adjustment in the sales comparison approach, if the comparable sale has a feature the subject lacks, the appraiser:
- An appraiser in Pittsburgh makes a negative adjustment to a comparable sale because the comp has a feature the subject property lacks. This adjustment:
- An appraiser in Montgomery County uses the 'sales comparison approach' for a single-family home. After making all adjustments, the three comps indicate values of $310,000, $315,000, and $322,000. The appraiser reconciles to $315,000. This suggests:
- A Pennsylvania appraiser is engaged to value a proposed apartment complex not yet built. This is called a(n):
- In the cost approach, the reproduction cost differs from replacement cost in that:
- The principle of conformity holds that:
- Paired sales analysis is used by Pennsylvania appraisers to:
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