Real Estate Terminology

mass appraisal^(AmE)

A systematic appraisal of a group of properties as of the same date and using similar methodology. A mass appraisal is generally carried out using uniform data and the results are compiled so that they may be reviewed and analysed statistically. A mass appraisal is generally carried out to enable a review of the market levels of the subject properties, especially to enable a statutory authority to adjust property for ad valorem property taxation. The valuation may also be carried out for statistical or economic studies.

Terms in bold are defined elsewhere in the Encyclopedia