Property Valuation
In Wyoming, a retroactive appraisal (for estate purposes, for example) requires the appraiser to:
AUse current market data to estimate past value
BReconstruct the market as of the past effective date using only data available as of that date✓ Correct
CAdjust current value downward by the inflation rate
DUse assessed values from the year of the effective date
Explanation
A retroactive appraisal must reflect value as of a past date using only market data that was known or knowable as of that date. The appraiser cannot use hindsight (data from after the effective date).
Related Wyoming Property Valuation Questions
- In Wyoming, 'assemblage value' or 'plottage increment' refers to the:
- In Wyoming, an upward adjustment to a comparable sale indicates:
- In Wyoming, the 'effective age' of a property for depreciation purposes may differ from its actual age because:
- The Uniform Standards of Professional Appraisal Practice (USPAP) requires Wyoming appraisers to:
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- In Wyoming, the residual technique in land valuation uses:
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