Which of the following is NOT a function of the appraisal process?

The appraisal process primarily focuses on assessing property values through expert evaluations. One of its core functions is to provide opinions of property value, which is necessary for real estate transactions, financing, and investment analysis. Conducting property inspections is also a critical part of the appraisal process since it allows appraisers to gather the necessary information about a property’s condition, features, and other relevant factors that affect its value.

Setting property tax rates is indeed influenced by appraisals; however, it is not a direct function of the appraisal process itself. This process involves determining the value of a property rather than setting rates adopted by local governments for taxation based on those values. Thus, while appraisals inform taxation decisions, they do not engage in the actual setting of property tax rates or establishing how those values translate into tax obligations.

In contrast, determining market trends can be a broader economic analysis but is not a direct function of individual property appraisals, which focus on specific values rather than overarching market trends. Therefore, the correct understanding is that determining market trends falls outside the direct scope of traditional appraisal functions.