nikolaos is an ordained minister. he moved to indianapolis and lives in the nearby furnished parsonage, which is 1,500 square fe

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nikolaos is an ordained minister. he moved to indianapolis and lives in the nearby furnished parsonage, which is 1,500 square fe

et. his previous role was in washington, d.c.; the fair rental value (frv) of his parsonage (1,800 square feet) in washington was $18,000/year. how should he determine frv for the indianapolis parsonage?

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1 answer:

siniylev [52] · Answer 1 · 2024-01-14T16:55:42+03:00

Option D. The way that Nikolaos would be able to determine for the parsonage of the Indianapolis would be: Consult an Indianapolis realtor for a documented quote with comparable listings for the house.

<h3>What is meant by parsonage?</h3>

Old French personage and medieval Latin personagium, both of which imply "home for a person," are the origins of the word "parsonage." A house in the early church was frequently not much more than a priest's place to sleep.

A clergy house is where one or more priests or other religious leaders currently live or previously lived. Such homes may be referred to as manse, parsonage, rectory, or vicarage, among other names.

A recent sale of a property in your neighborhood that is comparable to yours in terms of location, size, condition, and features is known as a "comp," short for "comparable sale."

Comparable (similar) homes have to have equivalent market values, and thus comparable assessed values. Comparing the assessment of your home to the assessments of other comparable homes is one approach to determine whether it has been done fairly or uniformly.