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Market Approach: (Also known as the Sales Comparison Approach) The process in which a market value estimate is derived by analyzing the market for similar properties which have sold and comparing these properties to the subject. When adequate sales data is available this approach tends to be the most objective and supportable approach to value single family residences.
Market Rent: (Also referred to as Economic Rent) The rental income that a property would probably command in the open market; indicated by the current rents that are either paid or asked for comparable space or properties;
Mass Appraisal: The process of valuing a large number of properties as of a given date utilizing standard methodology, employing common data, and allowing for statistical testing. The County Assessor uses multiple regression analysis to mass appraise most single family residences.
Minimum Evidence Requirements: The evidence required to perfect an appeal.
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