Property Valuation
What is 'land value' typically based on in Delaware appraisal practice?
AThe land's tax assessment
BComparable sales of similar vacant land✓ Correct
CThe reproduction cost of any improvements on the land
DThe land's zoning classification only
Explanation
Land value in an appraisal is typically estimated using the sales comparison approach — comparing the subject land to recent sales of similar vacant parcels, adjusting for differences in size, location, zoning, and utility.
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