A property appraisal is an opinion of value. In ad valorem appraisal, the appraiser is attempting to estimate market value, which is defined as "the most probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing for a sufficient time for the sale, and assuming that the transaction is not affected by undue pressures."
Personal property is defined by exception: property that is not real property is personal property. In short Business Personal Property can be defined as assets used to operate a business, farm or ranch.
Computer Assisted Mass Appraisal, or CAMA, is a generic term for any computer hardware/software product or products employed to develop property valuations based upon the mass appraisal method.