An appraiser finds the recorded living area differs from the assessor's record on several comparables. What should follow?
Correct Answer
D) Measuring or verifying before relying on either
Investigate conflicting area figures using credible sources and consistent measurement definitions before reliance. A difference can arise from measurement conventions, excluded areas or record error. Personal measurement may help when feasible but is not the only verification method. Neither automatically taking the assessor’s figure, taking the larger number nor deleting every affected case resolves the discrepancy.
Why This Is the Correct Answer
Investigate conflicting area figures using credible sources and consistent measurement definitions before reliance. A difference can arise from measurement conventions, excluded areas or record error. Personal measurement may help when feasible but is not the only verification method. Neither automatically taking the assessor’s figure, taking the larger number nor deleting every affected case resolves the discrepancy.
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Repeated measurements of the same reference area give 1,999 to 2,001 square feet, while the independently verified reference area is 1,800 square feet. What distinction does this illustrate?
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A sample median ratio is 0.87, below the 0.90-1.10 level standard. Under the IAAO Standard on Ratio Studies, what is needed before concluding the jurisdiction fails the level standard?