Definitions are referenced from various governmental real estate sites,
IAAO
Qualified Sale
A property transfer that satisfies the
conditions of a valid sale and meets all other technical criteria for inclusion
in a ratio study sample. If a property has undergone significant changes in physical
characteristics, use, or condition in the period between the assessment date and
sale date, it would not technically qualify for use in ratio study.
Qualitative Data
Pertaining to the subjective nature of
some variable of interest. For example, view, fire protection, quality, or site/location.
Qualitative Variable
Something that can be appreciated but
not objectively reduced to an unambiguous scale. For example, view is a qualitative
variable.
Pertaining to the
objective nature of some variable of interest, that is, something that can be measured
or counted with little ambiguity. For example, number of bathrooms is a quantitative
variable.
Quantity Survey Method
A method of estimating reproduction cost
in which a complete itemization is made of all labor and material costs by component
and subcomponent and all indirect costs; these are added to obtain an estimate of the cost of a structure or a reasonable bid for a contractor to submit on a proposed
project.
Quarter Section
A subdivision of a section containing
160 acres more or less, described by referencing the center point in the section,
that is, the NE + is north and east of the center point.
Quartiles
The values that divide a set of data into
four equal parts when the data are arrayed in ascending order. The first quartile
includes the lowest quarter of the data; the second quartile, the second lowest
quarter, and so forth.
Quitclaim Deed
Quotient Transformation
A transformation of two or more variables
accomplished by dividing one by the other. For example, the length of a room is
a quotient transformation of its area and its width. Like the multiplicative transformation,
many useful quotient transformations are less intuitively obvious than the one in
the example given.
