glossary of appraisal terms

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glossary of appraisal terms
2014-02-06 15:34:56

glossary of appraisal terms
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  1. abstract of the assessment roll
    valuation results of the assessment process
  2. actual age
    # of years since the date of construction. chronological age
  3. adaptive estimation procedure
    • using known sales prices to produce a model that can be used to value properties with unknown sales prices.
    • aka feedback
  4. adjusted sales price
    • sales price is adjusted for the effects of
    • time
    • financing
    • personal property
  5. adjustments
    • mods in the reported value of a variable such as sale price
    • used to estimate market value
  6. ADOR, DOR
    arizona department of revenue
  7. ad valorem
    according to value
  8. ad valorem tax
    • tax levied based on the value of an item.
    • ex property tax
  9. ad valorem taxation
    property taxed in dorect relationship to market value
  10. acquisition cost
    • total cost of acquiring property
    • includes:
    • actual cost of the item
    • cost of transporting
    • cost of installation
    • sales/use taxes
  11. age/life
    • a method of estimating accrued depreciation based on the age of the property and its economic life
    • aka straight-line depreciation
  12. affidavit of affixture
    recorded doc that changes tax status of a mobile home from personal property to real property
  13. affadavit of property value
    (sales affadavit)
    • 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
  14. agricultural land
    • land which is one or more of the following:
    • cropland of at least 20 gross acres
    • 10 or more gross acres of permanant crop