An appraiser observes that a subject property’s tax assessor record lists a site area of 0.38 acres. The appraiser’s survey shows dimensions of 150 ft × 120 ft. Assuming no measurement error, what is the most likely explanation for the discrepancy?
Correct Answer
C) The tax record reflects lot area before a recent plat correction
Convert survey dimensions to acres: 150 ft × 120 ft = 18,000 sq ft. One acre = 43,560 sq ft → 18,000 ÷ 43,560 ≈ 0.413 acres — not 0.38. 0.38 acres × 43,560 = 16,553 sq ft. Difference is ~1,447 sq ft — too large for rounding. A plat correction (e.g., boundary adjustment, vacated alley, or lot line revision) commonly causes such discrepancies between older tax records and current surveys. USPAP Standards Rule 1-2 requires the appraiser to reconcile such differences and cite the source of the most reliable data — typically a current ALTA/NSPS survey. Option C identifies the most probable cause: tax records lag official plat revisions. Option A is implausible because easements don’t increase lot area; B is incorrect — rods are obsolete and not used in modern tax assessments; D contradicts the stem, which states the survey shows 'dimensions of 150 ft × 120 ft' — a simple rectangle, implying full lot measurement.
Why This Is the Correct Answer
Convert survey dimensions to acres: 150 ft × 120 ft = 18,000 sq ft. One acre = 43,560 sq ft → 18,000 ÷ 43,560 ≈ 0.413 acres — not 0.38. 0.38 acres × 43,560 = 16,553 sq ft. Difference is ~1,447 sq ft — too large for rounding. A plat correction (e.g., boundary adjustment, vacated alley, or lot line revision) commonly causes such discrepancies between older tax records and current surveys. USPAP Standards Rule 1-2 requires the appraiser to reconcile such differences and cite the source of the most reliable data — typically a current ALTA/NSPS survey. Option C identifies the most probable cause: tax records lag official plat revisions. Option A is implausible because easements don’t increase lot area; B is incorrect — rods are obsolete and not used in modern tax assessments; D contradicts the stem, which states the survey shows 'dimensions of 150 ft × 120 ft' — a simple rectangle, implying full lot measurement.
More Property Description Questions
A property is located in FEMA flood zone AE with a base flood elevation of 485 feet. The lowest floor is at 487 feet. What is the significance for the appraisal?
In a leasehold estate, the tenant's interest in the property is called:
A residential property is located in a subdivision governed by covenants, conditions, and restrictions (CC&Rs) recorded in 1985. One CC&R prohibits detached accessory structures over 12 feet in height. The property currently has a 14-foot-tall detached garage built in 2012. No enforcement action has been taken. How should the appraiser reflect this violation in the appraisal report?
Why is a street address alone insufficient as a legal description in an appraisal report?
A ground lease typically involves:
In the rectangular survey system, a section contains how many acres?
A property is located in a 100-year flood zone. This means the property has what probability of flooding in any given year?
A building's foundation shows minor settling cracks that have been properly repaired and show no signs of recent movement. This condition represents:
An appraisal of a rented single-family home where the lease runs another four years at below-market rent is valuing which interest, from the owner's side?
When appraising a tenant's interest in a property under a long-term lease with below-market rent, the appraiser is valuing which property right?
People Also Study
Valuation Principles & Procedures
25% of exam
Market Analysis & Highest/Best Use
15% of exam
Appraisal Math & Statistics
15% of exam
USPAP (Ethics & Standards)
15% of exam
Report Writing & Compliance
10% of exam