Posted 12-13-07

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The effective date of the appraisal (also referred to as date of value) is determined by the intended use and the intended user. It is the date as of which the appraiser's values, analyses or conclusions apply. Most commonly, the effective date is a specific day, month and year; however, in some circumstances it is acceptable for the effective date to be less specific such as in a prospective appraisal assignment. The effective date of the appraisal puts the appraiser’s value conclusions in the context of time. For example: