<--Back to Wiki Home
Mass appraisal is a way to estimate the value of many properties at once. It's a method that's often used by governments to assess the value of properties for tax purposes. Instead of individually appraising each property, mass appraisal uses statistical analysis to determine the average value of properties in a given area.
Let's say the government wants to assess the value of all the homes in a particular neighborhood for tax purposes. They might use mass appraisal to determine the average value of homes in that area based on factors like size, age, and location. This information can help the government determine how much property taxes each homeowner should pay.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Mass appraisal, what could it be?
It's a way to value homes, you see!
Instead of looking at each one alone,
We use statistics to make it known.
The government might want to know,
How much each homeowner should owe.
So they'll use mass appraisal to find,
The average value of homes in kind.
By looking at things like size and age,
They'll determine the value with great sage.
And then they'll know how much to tax,
Each homeowner in their tracks.