What does the mass appraisal process involve?

The mass appraisal process is defined as the methodical approach used to value a group of properties simultaneously rather than individually. This approach is often employed by tax assessors to determine the value of multiple properties within a certain area for taxation purposes. It is efficient because it allows for uniform assessments based on similar characteristics of properties, facilitating the handling of large volumes of data and analysis.

The mass appraisal process typically involves using statistical methods, models, and market data to ensure consistent and fair evaluations of similar properties. It contrasts with other appraisal methods that focus solely on a single property, which require detailed analysis of its unique features and attributes.

While estimating market approach value and evaluating construction costs are relevant to property appraisal in general, they do not capture the essence of mass appraisal, which fundamentally revolves around evaluating many properties at once in a systematic manner.