Which type of data does a property assessor utilize to determine property value?

A property assessor relies on an historical range of sales data to determine property value because this data provides a comprehensive view of how similar properties have been valued in the past. This information helps establish market trends, ensures that property valuations are aligned with actual market conditions, and allows for comparisons between properties. By examining the sales prices of comparable properties in the area, assessors can develop a more accurate estimate of a property’s current market value. Historical sales data reflects the real estate market's performance and helps assessors determine fair market value based on actual transactions rather than projections or other indirect measures.

In contrast, projected future sales may not provide reliable data because they are speculative and can fluctuate based on various market conditions. Current unemployment rates could affect property values indirectly but do not serve as a direct measure of individual property valuations. Monthly rental averages may inform about potential income for investment properties but do not take into account the sale price history necessary for accurate valuation assessments.