The sales comparison approach estimates value from recent similar sales. It is one of the three approaches to value, not a guide to gathering comps.
The sales comparison approach estimates value from recent sales of similar properties, one of the three traditional approaches assessors use. IAAO also calls that path the market approach. The roll is still a mass-appraisal product. This page names the method. It is not a guide to gathering comps.
How does the sales comparison approach estimate value?
The IAAO glossary defines the sales comparison approach as estimating a property's value by reference to comparable sales, with adjustments so those sales reflect the subject. IAAO's Standard on Mass Appraisal calls it the usual preferred approach for residential property when enough sales exist. Similar lots, similar size, similar vintage are the raw material.
Example: three nearby sales around $200,000 point at a $200,000 indicated value. That cluster is an example of the idea, not a set of addresses to copy.
Look up if you are overpaying.
Is the sales comparison approach the same as a property tax appeal?
No. Sales comparison is a valuation method. A property tax appeal is a later request that the printed number come down. The county may have used sales to write that number. The property tax glossary keeps the method next to the filing. FairAppeal handles the entire appeal on your behalf when a case goes forward, and there are no upfront costs with Fair Appeal.