Property Valuation
The appraisal approach most commonly used to value Iowa farmland is:
AIncome capitalization approach
BSales comparison approach✓ Correct
CCost approach
DGross rent multiplier approach
Explanation
The sales comparison approach (market data approach) is typically the primary method for valuing Iowa farmland, comparing the subject farm to recent sales of similar farmland, adjusted for differences in soil productivity (CSR2 ratings), size, and location.
Related Iowa Property Valuation Questions
- Iowa's property tax exemptions include which of the following?
- In Iowa, a county assessor determines the assessed value of real property primarily for:
- The Iowa Department of Revenue publishes an equalization order when:
- An Iowa appraiser makes a positive adjustment of $5,000 to a comparable sale. This means:
- Reproduction cost in appraisal means:
- In Iowa, an assessor's determination of 'actual value' for property tax purposes is considered:
- In Iowa, which value concept do property tax assessors use?
- In Iowa, which type of value is used for property tax purposes?
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