The American Society of Appraisers (ASA) is a professional organization for appraisers across various disciplines, providing education, certifications, and resources to enhance appraisal practices.
Apportion refers to the allocation of property taxes paid by a company, such as a utility or railroad, within a state based on various factors like the value and location of the property.
The Appraisal Practices Board (APB) is a board within The Appraisal Foundation, established to identify and offer commentary on appraisal methods and techniques. Their guidance aims to promote clarity and consistency in appraisal practices, but adherence to their recommendations is voluntary.
A Broker's Opinion of Value (BOV) is an analysis provided by a real estate broker to help clients make informed decisions about the listing price or a suitable bid for a property. While similar to a comparative market analysis, it is not as in-depth as a licensed appraisal used for mortgage lending.
The intangible value inherent in a business apart from its tangible assets, which encompass buildings, land, and fixtures, and also the overall value of a business in its entirety, consisting of all its parts, both tangible and intangible.
The insurable value is the cost of total replacement of destructible improvements to a property, which insurers consider when issuing coverage.
Plottage refers to the increase in value realized by combining multiple smaller parcels of land into a single, larger parcel. This process is often employed in real estate to optimize land use and maximize profit.
A Restricted Appraisal Report is a type of valuation report containing minimal detail, intended solely for the client's use, and not for any other party. It stands in contrast to a more comprehensive Appraisal Report.
Tax assessment is the valuation of real estate property by a government entity to determine the property's tax liability. The assessed value is used to calculate the property taxes owed by the property owner.
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.
