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RCNLD: Appraisal term. Replacement cost new less depreciation.
Regression Analysis: A statistical technique used to analyze data in order to predict the value of one variable (dependent) such as market value from the known values of other variables called independent variables such as square footage, lot size, number of bathrooms, etc. When two or more variables are used the procedure is called multiple regression analysis. A multiple regression analysis is the type of mass appraisal technique the Salt Lake County Assessor uses to value your property.
Residential Exemption: A constitutional exemption granted to each property up to one acre which is someone's primary residence. The current exemption is equal to 45% of the fair market value. Forty-five percent is the statutory maximum. This means that 45% of the fair market value is not taxed. (UCA §59-2-103(2)).
Respondent: One who responds to the appeal that has been filed with the Board of Equalization. When the taxpayer files the appeal as the appellant then the Assessor is the respondent.
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