Principles of anticipation
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Ad valorem tax
According to Value, also called general tax.
Market data approach
Also known as .....Sales comparison Approach
Characteristics of value
D.U.S.T for a property to have value ( 4 characteristics)
Three approaches to Value
Comparison approach, cost approach & the income approach
Market Value
One of the most commonly misunderstood appraisal concepts
Principal of contribution
Value of property is equal to the sum of the contributory value of each of its components parts.
Principle of progression
Value of property is increased do to value of surrounding properties.
Chronogical Age
The actual age of the property in years.
