Property Valuation
What is an 'as-improved' value in a Delaware appraisal?
AThe value after a proposed renovation is completed
BThe current value of the property as it exists with its existing improvements✓ Correct
CThe value if the property were improved to highest and best use
DThe value prior to any improvements being constructed
Explanation
The 'as-improved' value (or 'as-is' value) is the value of the property in its current state with all existing improvements, as of the effective date of the appraisal.
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