Property Valuation
Which of the following statements about land value is TRUE?
ALand depreciates along with the building improvements
BLand does not depreciate and is valued separately from improvements✓ Correct
CLand value decreases as the building ages
DLand has no value apart from its improvements
Explanation
Land is considered permanent and does not depreciate. In the cost approach, land value is estimated separately and added to the depreciated cost of the improvements.
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