Appraisal

Appraisal: Definition:
The estimated market value of a property, either for tax assessment or sales purposes. Generally there are two types of appraisal: fee appraisal, in which one specific property is valued relative to other properties; and mass appraisal, in which entire neighborhoods and communities are appraised. Different rules and guidelines apply when trying to make one or the other type of appraisal.

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