Property Valuation
In Wisconsin, the 'sales ratio' study compares:
AThe listing price to the final sale price
BThe assessed value to the actual sale price of properties✓ Correct
CThe appraised value to the insured value
DThe market value to the replacement cost
Explanation
A sales ratio study compares assessed values to actual sale prices to measure the accuracy and uniformity of assessments across the municipality.
Related Wisconsin Property Valuation Questions
- Functional obsolescence in a Wisconsin property refers to:
- The Wisconsin equalized value (full value) of a property is set by:
- External (economic) obsolescence differs from functional obsolescence because it results from:
- Which of the following best describes 'arm's-length transaction' in Wisconsin?
- A Wisconsin appraiser who adjusts a comparable sale for 'location' is accounting for the fact that:
- Wisconsin law requires that licensed appraisers maintain records of their appraisals for a minimum of:
- Wisconsin's Milwaukee real estate market historically differs from suburban markets in that Milwaukee tends to have:
- A Wisconsin property's net operating income is $36,000 and the capitalization rate is 8%. What is the indicated value?
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