What term refers to the date to which the appraisal valuation applies?

The term that refers to the date to which the appraisal valuation applies is indeed known as the appraisal date. This is a critical aspect of the appraisal process as it establishes the specific point in time at which the value of the property is being assessed. The significance of the appraisal date lies in its influence on various factors that can impact property value, such as market conditions, economic trends, and changes in the neighborhood surrounding the property.

Understanding the appraisal date helps both appraisers and users of appraisal reports interpret the valuation correctly, as real estate values can fluctuate due to a multitude of reasons. Recognizing the date allows for a contextual understanding of how relevant information, comparable sales, and data were at that particular moment, which is essential for making informed decisions based on the appraisal.