Property Valuation
Indiana agricultural land appraisals often use which primary approach?
ACost approach
BSales comparison approach using comparable farm sales✓ Correct
CIncome approach only
DGRM method
Explanation
Agricultural land in Indiana is most commonly appraised using the sales comparison approach — comparing the subject farm to recent sales of comparable farmland with similar soil ratings, drainage, and location.
Related Indiana Property Valuation Questions
- An appraisal is an estimate of value as of:
- A competitive market analysis (CMA) is prepared by a broker and is used primarily to:
- An Indiana property owner who disagrees with their tax assessment may file a:
- Indiana's Real Estate Market Data Exchange (RMDX) or similar data repositories help appraisers by:
- In a sales comparison approach, a positive adjustment is made to a comparable when:
- An Indiana office building has a 5-year lease at $20/sqft for 10,000 sqft. Market rent is currently $25/sqft. The value impact of the below-market lease is:
- An Indiana appraiser valuing a special purpose property (such as a church or school) would most likely rely on:
- A capitalization rate is used in the income approach to:
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →