Which statement is true regarding STANDARD 6 related to mass appraisals?

The correct statement regarding STANDARD 6 related to mass appraisals is that it mandates specific reporting criteria for mass appraisals. This standard is part of the Uniform Standards of Professional Appraisal Practice (USPAP) and establishes the requirements that appraisers must adhere to when conducting mass appraisal processes.

Mass appraisals involve estimating the value of many properties using standardized methods and techniques, and as such, the standard outlines how these appraisals should be documented and reported. This includes the need for clear and comprehensive communication of the methods used, as well as the data that supports value conclusions. By mandating specific reporting criteria, STANDARD 6 aims to ensure transparency, consistency, and reliability in mass appraisal results, which are particularly important for purposes such as property tax assessments.

While detailed inspections of all properties and personal inspections are critical for individual appraisals, they are not a requirement for mass appraisals where data can be aggregated and analyzed on a broader scale. Approximations from past appraisals may be used in mass appraisal settings, but they still must adhere to the principles and reporting criteria set forth in STANDARD 6. Lastly, the standard applies to residential properties as well as other types of properties, underscoring its broad applicability in