glossary of appraisal terms

valuation results of the assessment process

# of years since the date of construction. chronological age

• using known sales prices to produce a model that can be used to value properties with unknown sales prices.
• aka feedback

• sales price is adjusted for the effects of
• time
• financing
• personal property

• mods in the reported value of a variable such as sale price
• used to estimate market value

arizona department of revenue

according to value

• tax levied based on the value of an item.
• ex property tax

property taxed in dorect relationship to market value

• total cost of acquiring property
• includes:
• actual cost of the item
• cost of transporting
• cost of installation
• sales/use taxes

• a method of estimating accrued depreciation based on the age of the property and its economic life
• aka straight-line depreciation

recorded doc that changes tax status of a mobile home from personal property to real property

• a report filed when a deed is recorded which contains selling price and various pieces of information about conditions of the sale such as:
• buyer and seller ID
• intended use
• type of property

• land which is one or more of the following:
• cropland of at least 20 gross acres
• 10 or more gross acres of permanant crop