Property Valuation
An Idaho appraiser uses a cost approach and determines the cost new is $300,000 and total depreciation is $75,000. Land value is $60,000. What is the indicated value?
A$225,000
B$255,000
C$285,000✓ Correct
D$360,000
Explanation
Cost approach value = (Cost New − Depreciation) + Land Value = ($300,000 − $75,000) + $60,000 = $225,000 + $60,000 = $285,000.
Related Idaho Property Valuation Questions
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