ADVISORY OPINIONS
Ad valorem taxation assignments include both appraisal assignments and mass appraisal assignments.
STANDARDS 1
& 2 address the
requirements for development of an appraisal and reporting of appraisal
results for a particular real property interest as of a given date.
STANDARD 6
addresses the requirements for development of a mass appraisal and reporting
of mass appraisal results for real property and personal property. Mass
appraisal is the valuation of a universe of properties (many properties)
as of a given date using standard methodology, employing common data,
and allowing for statistical testing. Mass
appraisal provides for a systematic approach and uniform application of
appraisal methods and techniques to obtain estimates of values that allow
for statistical review and analysis of results.
STANDARDS 7 & 8 address the requirements for development of an appraisal and reporting of appraisal results for a particular personal property interest as of a given date.
The keys to distinguishing a mass appraisal are: 1) the subject of the appraisal is a “universe” of properties, meaning more than one property; and 2) the assignment involves standard methodology employing common data that allows for statistical testing. These models may be based on the cost approach, the income approach and/or the sales comparison approach to value.
USPAP 2008–2009 Edition
©The Appraisal Foundation