Glossary


For a larger glossary of many terms used in property appraisal, please see the International Association of Assessing Officers' Glossary for Property Appraisal and Assessment .



Uniform Assessments

Equal assessment charged to all members of the homeowners' organization for the operation and maintenance of the common area property.

Units of Comparison

A property as a whole, or some smaller measure of the size of the property used in the sales comparison approach to estimate a price per unit.

Use Classification

Categories into which real estate can be divided according to its use residential, commercial, industrial, agricultural, and special purpose.