Property Valuation
In the sales comparison approach, a gross living area (GLA) adjustment is made because:
AAll properties must have the same square footage under zoning
BDifferences in the size of the living area between the subject and comparable properties affect value✓ Correct
CGLA determines the property tax assessment
DLenders require all appraisals to include GLA
Explanation
A GLA adjustment is made when the subject property's living area differs in size from that of the comparable. The appraiser calculates a per-square-foot value of the area difference and adds or subtracts it from the comparable's price to account for the size difference.
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