Property Valuation
Which appraisal approach is most appropriate for a special-use property such as a church or school in Colorado?
ASales comparison approach
BIncome approach
CCost approach✓ Correct
DGross rent multiplier approach
Explanation
The cost approach is most appropriate for special-use properties (churches, schools, government buildings) because there are few comparable sales and they do not generate rental income. The cost approach estimates value based on replacement cost minus depreciation plus land.
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