What is the primary advantage of mass appraisal?(a) Accuracy(b) Timeliness(c) Cost-effectiveness(d) Fairness
Question
What is the primary advantage of mass appraisal?(a) Accuracy(b) Timeliness(c) Cost-effectiveness(d) Fairness
Solution
The primary advantage of mass appraisal is (c) Cost-effectiveness. This method is used primarily for taxation purposes such as property tax. It involves assessing a group of properties as of a given date, using standard methods and allowing for statistical testing. This makes it a more cost-effective method compared to individual property appraisals.
Similar Questions
Which of the following is NOT a typical step in the mass appraisal process?(a) Data collection(b) Data analysis(c) Valuation modeling(d) Appraisal review and appeal
The Appraisal Process
Which of the following best represents a qualitative method in performance appraisal?Graphic rating scaleBehavioral checklistProductivity dataSales numbers
How do current trends in performance appraisals affect benchmarking activities?a.They only apply to the marketing and sales departmentsb.They are overlooked to maintain a uniform approach over timec.They lead to entirely discarding established benchmarks annuallyd.They are considered in setting performance metrics and projections
Performance appraisals that are based on facts and are often numerical are referred to as _______ appraisals.Multiple choice question.reactiveproactivesubjectiveobjective
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.