| ABOVE GRADE LIVING AREA; AGLA |
| The living area in a house not including the basement.
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| ACCESSORY IMPROVEMENTS |
| Improvements other than the principal buildings.
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| AD VALOREM TAX |
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A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of
exemptions, use-value assessment provisions, and the like, the property tax is an
ad valorem tax.
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| AD VALOREM |
| According to value.
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| ADJUSTMENTS |
| Modifications in the reported value of a
variable, such as sale price. For example, adjustments can be used to
estimate market value in the sales comparison approach by modifications
for differences between comparable and subject properties.
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| APPRAISAL DATE |
| The date as of which a property's value is estimated.
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| APPRAISAL RATIO STUDY |
| A ratio study using independent appraisals
as indicators of market value.
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| APPRAISAL RATIO |
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(1) The ratio of the appraised value to an indicator of market value.
(2) By extension, an estimated fractional relationship between the appraisals and market values
of a group of properties.
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| APPRAISAL REPORT |
| The oral or written communication of a completed appraisal.
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| APPRAISAL STANDARDS BOARD |
| The division of the APPRAISAL FOUNDATION that
develops, publishes, interprets, and amends the
Uniform Standards of Professional Appraisal
Practice on behalf of appraisers and users of appraisal services.
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| APPRAISAL |
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(1) The act of estimating the money value of property.
(2) the money value of property as estimated by an appraiser.
(3) Of or pertaining to appraising and related functions, for example, appraisal practice,
appraisal services. Compare assessment.
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| APPRAISAL-SALE PRICE RATIO |
| The ratio of the appraised value to the sale price
(or adjusted sale price) of a property; a simple indication of appraisal accuracy.
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| APPRAISER |
| One who estimates the value of property; more
commonly, one of a group of professionally skilled persons holding themselves out as
experts in valuation.
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| AREA |
| A geographic area defined and named by the Department of Assessments.
These areas typically encompass properties within a group of neighborhoods that are more or less
equally subject to economic forces that largely determine the value of the properties in question.
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| ASSESSED VALUE |
| A value set on real estate and personal property by a government as a basis for levying taxes.
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| ASSESSMENT EQUITY |
| The degree to which assessments
bear a consistent relationship to market value.
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| ASSESSMENT LEVEL |
| The common or overall ratio of assessed values to market values.
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| ASSESSMENT PROGRESSIVITY |
| An appraisal bias such that high-value properties are appraised higher than low-value properties in relation to market values.
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| ASSESSMENT RATIO |
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(1) The fractional relationship an assessed value bears
to the market value of the property in question. (2) By extension, the fractional relationship the total
of the assessment roll bears to the total market value of all taxable property in a jurisdiction.
See level of assessment.
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| ASSESSMENT REGRESSIVITY |
| An appraisal bias such that high-value properties are appraised lower than low-value properties in relation to market values.
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| ASSESSMENT |
| (verb) The official act of discovering, listing, and appraising property. (noun) The value placed on property in the course of such act.
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| ASSESSMENT-SALE PRICE RATIO |
| The ratio of the assessed value to the sale price (or adjusted sale price) of a property.
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| AVERAGE DEVIATION |
| The arithmetic mean of the absolute
deviations of a set of numbers from a measure of central tendency, such as the median.
Taking absolute values is generally understood without being stated. The average of the
numbers 4,6, and 10 about their median (6) is (2+0+4)/3 =2. The average deviation is used
in computing the coefficient of dispersion.
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