What is the purpose of the "Survey of Property Values"?

The "Survey of Property Values" serves the primary purpose of analyzing and comparing property values during assessments. This tool is critical for property assessors as it allows them to gather and evaluate data on property values in a specific area. By understanding how various properties are valued in relation to one another, assessors can ensure that property taxes are equitably distributed and reflective of the true market value of the properties. This enhances the fairness of the assessment process and supports proper tax calculations.

The other options, while related in some way to real estate and finance, do not align directly with the primary function of the Survey of Property Values. Estimating closing costs is more focused on transactional aspects rather than assessing value for taxation. Predicting future real estate trends involves market analysis and forecasting, which goes beyond the immediate task of property assessments. Assessing the profitability of rental properties targets investment considerations rather than the property value assessment process itself. Hence, the correct answer aligns closely with the foundational goals of property assessment practices.