Property Valuation
In a Louisiana appraisal, 'reproduction cost' differs from 'replacement cost' in that reproduction cost estimates the cost to:
AReplace with a functionally equivalent structure using modern materials and design
BBuild an exact replica of the existing structure using the same materials and construction methods✓ Correct
CRepurchase the property at current market value
DReproduce the building design using modern construction technology
Explanation
Reproduction cost estimates the cost to build an exact duplicate using the same materials, design, and construction methods as the original. Replacement cost estimates the cost to build a functionally equivalent structure using current materials and methods — typically lower for older buildings.
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