Property Valuation
In South Dakota, an appraiser's 'reconciliation' at the end of the appraisal report means:
AAveraging the values indicated by each approach
BWeighing the reliability and applicability of each approach and arriving at a final value opinion✓ Correct
CSelecting the highest value indicated by any approach
DSelecting the lowest value to be conservative
Explanation
Reconciliation is the appraiser's analysis of the values indicated by each applicable approach (sales comparison, cost, income) to arrive at a single, supportable final value opinion. The appraiser weighs each approach based on its applicability, reliability, and the quality of data available.
Related South Dakota Property Valuation Questions
- In South Dakota, which principle holds that the value of a property depends partly on the expected future income it will produce?
- The South Dakota sales comparison approach to value is MOST reliable when:
- In South Dakota, which statement about the 'sales comparison approach' is correct?
- A South Dakota appraiser is asked to determine the value of a 500-unit apartment complex in Sioux Falls. Which approach is most appropriate?
- An appraiser using the income approach determines a South Dakota property's value at $400,000 with a cap rate of 7.5%. What is the NOI?
- Capitalization rate (cap rate) is calculated as:
- Regression analysis in South Dakota real estate appraisal is a statistical method used to:
- Assessed value for property tax purposes in South Dakota is typically:
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