Property Valuation
A Mississippi appraisal for a 'going concern' value includes:
AOnly the real property and land
BThe value of the real property, personal property, and intangible business assets as a combined operational entity✓ Correct
COnly the business's net income
DThe replacement cost of all equipment only
Explanation
A going concern appraisal values a business enterprise as a whole, including real property, personal property, and intangible assets (goodwill, brand value, customer relationships). It differs from a real property appraisal alone.
Related Mississippi Property Valuation Questions
- A Mississippi property had gross rents of $24,000 per year. Expenses were $9,600. At a 7% cap rate, the value is approximately:
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- In the sales comparison approach, an appraiser found a comparable that recently sold for $285,000 but lacks a swimming pool that the subject property has, valued at $12,000. What is the adjusted sale price of the comparable?
- A Mississippi appraiser adjusts a comparable sale that had a swimming pool when the subject property does not. The appraiser would make a:
- The income capitalization approach estimates property value by:
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- A Mississippi appraisal report's 'effective date of appraisal' is the date:
- Assessed value in Mississippi is determined by:
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