Mass Appraisal Techniques

Mass appraisal techniques are methods used to evaluate the value of a large number of properties simultaneously, often for taxation purposes. These techniques utilize statistical analysis and data modeling to estimate property values based on various factors, such as location, property size, and market trends. Common approaches include sales comparison, where recent sales of similar properties are analyzed, and cost approach, which calculates the value based on rebuilding costs. By employing these methods, assessors can ensure fair and efficient property valuations, supporting both the community's financial needs and property owners' rights.