Which of the following is NOT a step in the Per Unit Value Analysis?

The process of Per Unit Value Analysis is an essential component of mass appraisal, used to determine the value of properties by analyzing comparable data. In this analysis, various key steps are undertaken to ensure the accuracy and reliability of the results.

Estimating the site value is not part of the Per Unit Value Analysis steps because the focus of this analysis is on evaluating the properties through comparative metrics, such as their physical characteristics and sale prices, rather than explicitly determining land value. The analysis concentrates on how property attributes convert into value, utilizing established units of comparison.

On the other hand, calculating measures of central tendency helps to understand the average values of the dataset, while determining the appropriate unit of comparison is crucial in standardizing how property values are assessed. Additionally, identifying relatively homogeneous groups allows appraisers to ensure that the properties being compared share similar characteristics, which leads to more accurate estimations. Thus, these steps directly contribute to the effectiveness and credibility of Per Unit Value Analysis.