Property Valuation
An appraiser determines that a property's contributory value of a swimming pool is $15,000. This means:
AThe pool cost $15,000 to build
BThe market evidence shows buyers pay $15,000 more for similar homes with a pool✓ Correct
CThe pool must be replaced for $15,000
DThe pool adds $15,000 to assessed value
Explanation
Contributory value is what a feature actually adds to market value, which may be more or less than its cost. A pool's contributory value of $15,000 means market data shows buyers pay approximately $15,000 more for homes with pools.
Related Georgia Property Valuation Questions
- In the income approach, 'contract rent' refers to:
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