Property Valuation
In Wisconsin, the assessed value is used for:
ADetermining market value for a sale
BCalculating property taxes based on the municipal mill rate✓ Correct
CSetting the listing price of a home
DComputing the state income tax basis
Explanation
Assessed value, set by local assessors, is the basis for calculating property taxes using the municipality's mill rate. It may or may not equal market value depending on the assessment ratio.
Related Wisconsin Property Valuation Questions
- When comparable sales in a Wisconsin CMA are from 18 months ago, the appraiser should:
- A Wisconsin broker preparing a BPO (Broker Price Opinion) should disclose that it is:
- A Wisconsin foreclosure sale price is generally NOT used as a comparable sale in an appraisal because:
- In Wisconsin, an 'as-is' appraisal reflects the value of the property:
- A Wisconsin property with a long-term below-market lease has a value that is typically:
- A Wisconsin appraiser who encounters a property with a 'super-adequacy' (e.g., a $200,000 swimming pool in a neighborhood of $150,000 homes) should recognize:
- A Wisconsin appraiser's final value conclusion for a home is $285,000. The sales comparison approach indicated $282,000, the cost approach $290,000, and no income approach was used. This reconciliation gives greatest weight to:
- A Wisconsin appraiser who uses the 'paired sales analysis' is trying to isolate the value contribution of:
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