Welcome to the Knowledge Mouse Online Quiz
glossary
| Questions |
Answers |
| the number of years that have elapsed from the year of construction to the present date |
actual age |
| according to value |
ad valorem |
| a tax leived according to value |
ad valorem tax |
| the value placed on property for tx purposes and used as a basis for distribution of the tax burden. Most of the time this amount is subject to the State-issued equalization factor and the deduction of various homestead exemptions on residential parcels |
assessed value (AV) |
| the building value derived from the sales price minus the lot value |
building residual |
| modifies the normal age depreciation of an improvement according to the appraisers determination of the improvements condition, desirability and utility |
CDU rating |
| calculating of reproducing the improvements, subtracting accrued depreciation, and adding land value |
cost approach |
