Property Valuation
In Louisiana, when an appraiser identifies a 'superadequacy' in a property, it means:
AThe property has a superior location
BA building feature or component that exceeds what the market demands, resulting in functional obsolescence✓ Correct
CThe property's income exceeds market expectations
DThe property exceeds the zoning's maximum floor area
Explanation
A superadequacy is an excess in the capacity or quality of a building component beyond what is needed for its intended use — such as an over-designed structural system or oversized HVAC. It represents a form of functional obsolescence because the excess investment is not recovered in value.
Related Louisiana Property Valuation Questions
- In Louisiana, the 'market conditions adjustment' in an appraisal's sales comparison approach accounts for:
- A Louisiana broker's price opinion (BPO) is:
- The Uniform Standards of Professional Appraisal Practice (USPAP) are developed and maintained by:
- The principle of 'contribution' in real estate valuation states that:
- In the sales comparison approach, 'comparables' (comps) should be:
- What does 'as-is' value mean in a Louisiana appraisal?
- A Louisiana appraiser notes that a comparable sale was a foreclosure and the seller was highly motivated to sell at a discount. This sale would likely be:
- A property in Louisiana is appraised at $340,000. It is assessed at 10% of appraised value. The millage rate is 90 mills. What are the annual property taxes?
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