Property Valuation
An appraisal that is performed for estate purposes in Wyoming must reflect the property's fair market value as of:
AThe current date of the appraisal
BThe date of death of the decedent✓ Correct
CThe date the estate is closed
DThe date the property is listed for sale
Explanation
For estate tax and probate purposes, the property must be appraised at fair market value as of the date of the decedent's death, not the current date or listing date.
Related Wyoming Property Valuation Questions
- A Wyoming appraiser uses the GRM method. A rental cabin generates $1,800/month rent and similar properties sell at a GRM of 120. What is the indicated value?
- In Wyoming, a retroactive appraisal (for estate purposes, for example) requires the appraiser to:
- A Wyoming industrial property appraiser uses the 'extraction method' to value the land. This involves:
- An appraiser making a positive adjustment to a comparable sale in Wyoming means:
- When reconciling appraisal approaches in Wyoming, an appraiser gives the most weight to the approach that:
- Functional obsolescence in a Wyoming property is best illustrated by:
- Economic base analysis in Wyoming real estate focuses on:
- The principle of substitution in appraisal states that:
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →