Question

The assessment ratio isa) The ratio of assessed value to market valueb) The ratio of assessed value to the average value for propertiesin the same districtc) The ratio of the assessor's salary to the total property value inthat jurisdictiond) Used in non-residential appraisals because it is simple andeasy to understand

Answer 1

The correct answer is option A.

Step-by-step explanation:

The assessment value can be found by calculating the ratio of assessed value of a property to its market value.

Market value is the rate at which the property can be sold in the open market.

The assessed value is the value given to the property by the assessor's office in order to estimate property taxes.