Property Valuation
A Texas CAD (county appraisal district) determines market value using which valuation methods?
AOnly the comparable sales approach
BSales comparison, income, and cost approaches as appropriate for each property type✓ Correct
COnly the assessed value from the prior year plus an inflation factor
DMethods determined by the property owner's preference
Explanation
Texas county appraisal districts use the same three approaches to value (sales comparison, income, cost) used in professional appraisal, applying them as appropriate for each property type. Residential properties typically use the sales comparison approach; commercial properties may use the income approach; special-use properties may use the cost approach.
Related Texas Property Valuation Questions
- Accrued depreciation in the cost approach refers to:
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- A Texas single-family home appraiser uses the following sales. After adjustments, which comparable would they give the most weight to?
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