Property Valuation
An Indiana appraiser determines a property's 'as improved' value versus 'as if vacant' value. The difference represents the:
ALand value only
BContribution of the improvements to the total property value✓ Correct
CDepreciation of the improvements
DThe difference between appraised and assessed value
Explanation
The difference between 'as improved' (with existing buildings) and 'as if vacant' (land only) values represents the contribution of the improvements to the total property value — which may be positive (the improvements add value) or negative (tear-down situation).
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