Ace the Arizona Real Estate Exam 2025 – Unlock Your Property Dreams!

The vacant shopping center would likely have the highest assessment ratio due to its susceptibility to various market factors and its classification as commercial property. Assessment ratios can vary based on property types and their use, with commercial properties often being appraised at higher rates compared to residential properties.

Vacant shopping centers, despite having no tenants, are still assessed based on their potential income generation ability and location. Since they typically have more complex valuations involving market conditions, zoning, and potential future use, their assessment can reflect a higher ratio. In contrast, raw land may have a lower assessment due to its undeveloped state, apartment buildings, despite low vacancies, can be less favorable in terms of assessment due to their income potential being diminished, and single-family residences are typically assessed differently, often with lower ratios based on their more stable and predictable investments.

In summary, the nature of commercial real estate, particularly a vacant shopping center, leads to a higher assessment ratio grounded in potential value and market dynamics.