Representative houses

Many homeowners and business people are familiar with the nature and use of real estate appraisals. In most cases, such appraisals are done one-at-a time by qualified appraisers. However, in order to appraise approximately 78,000 parcels of real estate in two years, counties have to use a different approach. This approach is called "mass appraisal."

The mass appraisal process involves a number of distinct but interrelated processes. During this process, the mass appraisal company will collect information for every property and will analyze real estate costs and sales. In its annual publication, Uniform Standards of Professional Appraisal Practice, the Appraisal Standards Board has defined mass appraisal as follows:

"[Mass appraisal] is the process of valuing a universe of properties as of a given date utilizing standard methodology, employing common data and allowing for statistical testing."*

To learn more about the methodology used for the Fayette County Property Revaluation Project, click on the steps shown at the left starting with Step 1: Data Collection and concluding with Step 5: Change of Assessment Notice.

*USPAP 2008-2009 Edition