An assessor is a government official responsible for determining the value of a property for the purpose of ad valorem taxation. They evaluate real estate to assign tax values based upon current market conditions.
The International Association of Assessing Officers (IAAO) is a professional organization dedicated to promoting excellence in property appraisal, assessment administration, and property tax policy.
Valuation in real estate refers to the process and outcome of estimating the market worth or price of a property. Accurate valuation is crucial for various purposes including sales, taxation, loan collateral, and investment analysis.
