Property Valuation
In South Dakota, a 'mass appraisal' is typically performed by:
AA large appraisal firm for a portfolio sale
BCounty assessors to establish assessed values for property taxation of all properties in the county✓ Correct
CFHFA for conforming loan evaluations
DThe SDREC for licensing fee assessments
Explanation
Mass appraisal is the process county assessors use to value all properties in their jurisdiction simultaneously for tax assessment purposes, using standardized methods and statistical analysis.
Related South Dakota Property Valuation Questions
- An appraiser in South Dakota adjusts comparable sale prices for differences between comparables and the subject property. A comparable that is inferior to the subject in location would receive a:
- In South Dakota, when an appraiser uses the 'gross rent multiplier' (GRM) method for a single-family rental, they divide:
- Which appraisal approach is most commonly used to value South Dakota agricultural land?
- In the sales comparison approach to value, an appraiser makes adjustments to comparable sales for differences between the comparable and the subject property. If a comparable sale has a feature the subject property lacks, the appraiser should:
- The principle of progression in South Dakota real estate states that:
- A South Dakota appraiser is using the cost approach and finds the total replacement cost new is $400,000, with $80,000 in total depreciation. The land value is $60,000. What is the estimated value?
- In the cost approach to value, 'functional obsolescence' in a South Dakota property refers to:
- In South Dakota, a 'desk review' appraisal means the reviewing appraiser:
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