Property Valuation
In Minnesota, the income approach is most appropriate for valuing which type of property?
AOwner-occupied single-family homes
BIncome-producing properties such as apartment complexes, commercial buildings, and retail centers✓ Correct
CUndeveloped raw land
DHistorically significant buildings
Explanation
The income approach is most applicable to income-producing properties where the value is primarily derived from the income the property generates. It is used for apartment buildings, office parks, retail centers, and other investment properties common in the Minneapolis-St. Paul metro area.
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