The intent of these standards is not to instruct in the details of appraising, but rather the emphasis is on those particular aspects of valuation that pertain to assessing in Utah. Detailed instruction in appraisal theory and practice is provided through appropriate registration and certification course work. Much of the language in these standards is common to other assessment publications as well as other disciplines; however, its use here is restricted to the definitions provided in the “General Information Section”. This section provides an extensive list of standard definitions used by the Utah State Tax Commission (Commission) and by local assessment. | Real Property Valuation Standards of Practice 6 Utah State Tax Commission Property Tax Division Rev. August 2002 Standard 6 - Real Property Valuation Standards of Practice Table of Contents TABLE OF CONTENTS 2 SECTION 8 General Information 8 Purpose 8 Scope 8 Constitutional and Legislative Authority 8 The Valuation Process 8 Definitions 8 Ad Valorem Tax 8 Analysis Assignment 9 Appraisal 9 Appraisal Report 9 Arm s Length Sale 9 Assemblage 9 Associated Parcels 9 Bracketing Technique 9 Certified Appraisal Report 9 Certified Appraiser 9 Coefficient of Dispersion 10 Confidential Proprietary Information 10 Consulting 10 Division of Real Estate 10 Elements of Comparison 10 Escalations 10 Escaped Property 10 Excess Land 10 FAA 10 Factor Order 10 Fair Market Value 11 Farmland Assessment Act FAA 11 Page 6-2 Standard 6 - Real Property Valuation Standards of Practice Fee Simple Interest 11 Greenbelt 11 IAAO 11 Improvements 11 Land 11 Leased Fee Estate 11 Lien Date 11 Local Cost-New Modifier 11 Manufactured Home 11 Market Rent 12 Market Value 12 Mobile Home 12 Neighborhood 12 Parcel 12 Plottage 12 Primary Residential 12 Privilege Tax 13 RCNLD 13 Real Estate 13 Real Property 13 Reappraisal Order 13 Regression Models 13 Relative Value Type 13 Review Assignment 13 Secondary Residential 13 Segregation 13 Situs 13 State-Certified General Appraiser 14 State-Certified Residential Appraiser 14 State-Licensed Appraiser 14 Submarket Area 14 Submarket Factor 14 Surplus Land 14 Tax Area 14 Page .
