ADVISORY OPINIONS
This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems.
SUBJECT: Ad Valorem Property Tax Appraisal and Mass Appraisal Assignments
APPLICATION: Real Property, Personal Property
THE ISSUE:
Ad valorem is Latin for “according to value.” In ad valorem taxation assignments, the appraisal or mass appraisal is used to establish a value basis for a political subdivision’s tax burden. This guidance is provided to address the application of USPAP to appraisal and mass appraisal assignments for ad valorem taxation.
As used in this Advisory Opinion, “appraisal assignments” are those covered by STANDARDS 1 and 2 or STANDARDS 7 and 8. “Mass appraisal assignments” are those covered by STANDARD 6.
ADVICE FROM THE ASB ON THE ISSUE:
Identification of Intended Users
USPAP 2008–2009 Edition
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