Property tax appraisal is the practice of estimating or assessing the value of a property in terms of money. It is the very foundation on which property taxes are calculated.
This is because it is the tool used by the authorities in order to determine the value of the property and then in respect to that value, the amount of property tax to be levied.
Knowledge of property tax appraisal is an absolute necessity as it involves with determining the value of the land while keeping in mind the various factors.
Property tax appraisal is always performed by an expert who is generally known as the appraiser.
Different methods of appraising properties are used all over the world by the different governments with each method having its own pro and con.
Appraisal is also necessary because each and every property in the world is unique in its own way.
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