Property Valuation
Vermont's 'equalization study' uses the Common Level of Appraisal (CLA) to achieve which goal?
AStandardize commissions charged by Vermont real estate agents
BEnsure that education property taxes are distributed fairly by adjusting for differences in assessment practices across towns✓ Correct
CSet maximum sale prices for affordable housing
DVerify Act 250 compliance
Explanation
Vermont's CLA equalization study compares actual sale prices to assessed values in each town to determine how closely assessments reflect market value. The CLA is used to fairly distribute the education property tax burden across towns with different assessment practices.
Related Vermont Property Valuation Questions
- Vermont's equalized education property tax rate is designed to:
- In Vermont, the 'regression principle' suggests that a high-value home placed in a neighborhood of lower-value homes will:
- A competitive market analysis (CMA) prepared by a Vermont real estate agent is:
- Vermont's education property tax is based on:
- Vermont's 'discounted cash flow' (DCF) analysis in real estate investment:
- A Vermont property owner who disagrees with their tax assessment may:
- Vermont appraisers are required to hold which license or certification under federal law?
- A Vermont apartment building has a net operating income of $90,000 per year. If the capitalization rate for similar properties in the area is 7.5%, what is the indicated value using the income approach?
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