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What type of appraisal process is used by the Tax Department?

April 26, 2017appraisal Department process tax type Used

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What type of appraisal process is used by the Tax Department?

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A. “Mass Appraisal” method is used, which is the process of valuing a group of properties as of a given date, using standard methods, employing common data, and allowing for statistical testing. In determining value, all three approaches to value, cost, market, and income are considered.