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13 Cards in this Set
- Front
- Back
- 3rd side (hint)
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An ECF adjusts the Assessor's use of the cost manuals to the ? |
Local market |
Assessed value, properties that have sold, statewide costs, local market |
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T/F - New construction requires and ECF? |
True |
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And ECF represents the relationship between the appraised value of the building and the ______ of that building |
Sales price |
State equalized value, assessed value, sales price, taxable value |
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An ECF is derived by analyzing properties that have? |
Sold |
Been appraised, sold, filed ptas, depreciation |
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T/F An accurate ECF cannot be calculated without a solid set of land values or tables |
True |
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The time frame for sales used in ECF analysis is the same time frame as _______ is performed to set the starting base for equalization purposes |
Sales study |
County multipliers, sales study, assessed value, state equalized value |
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ECF's should be applied as ____? |
Calculated |
Calculated, a percentage, a factor, cost new less depreciation |
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An assessor must _____ The sale price and terms of sale for each parcel used in the ECF study |
Verify |
Determine, verify, calculate, analyze |
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T/F - separate ECF indicators are averages to produce the overall ECF? |
False |
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T/F - occasionally, due to a lack of sales it is necessary to estimate an ELF. To estimate an EGG you should analyze historical sales and use sales from outside the ECF area? |
True |
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A common mistake in development of ECS is to establish too many _____? |
Neighborhoods |
Sales, decimal places, neighborhoods, physical changes |
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ECF analysis must be retained on file to _____ the source of the ECF |
Document |
Document, verify, calculate, none of the above, the information is kept on the computer |
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ECF's are applied to the _____ only? |
Buliding |
Building, land and building, assessed value, state equalized value |
