Assessed value in appraising

In appraising improved property, the least important factor is:

  1. sales price
  2. highest and best use
  3. prices of comparables
  4. assessed value

The answer is D.  Assessed value is a value determined by local government assessors and used to calculate annual property taxes.  Appraisers rarely, if ever, consider the assessed value when coming up with a price for property that they are appraising.