Property Valuation
What is an 'interim use' of a property in Idaho appraisal?
AThe current use while awaiting its highest and best use✓ Correct
BA use that is neither residential nor commercial
CA temporary use restricted by zoning
DA government interim designation for development
Explanation
An interim use is a current use of property that is not its highest and best use, but makes economic sense while the owner waits for conditions to change (e.g., farming land that is expected to be developed in the future).
Related Idaho Property Valuation Questions
- What is a 'desk review' in the appraisal process?
- Reconciliation in the appraisal process refers to:
- A comparable sale that closed 12 months ago in a rising market would require which type of adjustment?
- The principle of conformity states that:
- External (economic) obsolescence in an appraisal is characterized by:
- What does 'effective age' mean in an appraisal?
- The principle of 'conformity' in appraisal holds that:
- The 'before and after' method is used in which appraisal situation?
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