Property Valuation
A Connecticut appraiser uses the 'gross income multiplier' (GIM) for a commercial property. The annual gross income is $180,000 and the GIM is 9. What is the estimated value?
A$1,080,000
B$1,440,000
C$1,620,000✓ Correct
D$1,800,000
Explanation
Value = GIM × Annual gross income = 9 × $180,000 = $1,620,000. Using the values given ($180,000), apply the appropriate formula.. The correct answer is $1,620,000.. This is a common calculation on the Connecticut real estate exam.
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