Property Valuation
A Montana appraiser determines that a property's highest and best use as vacant would be commercial development, but the existing use is single-family residential. This is an example of:
AThe property being over-improved
BAn interim use where the current use is appropriate while the market develops toward the highest and best use✓ Correct
CFunctional obsolescence that reduces the property's value
DA zoning violation requiring immediate correction
Explanation
When the current use of a property This affects how the property is appraised and valued. Appraisers in Montana use standardized methods to estimate property value for lending and sales.. The correct answer is An interim use where the current use is appropriate while the market develops toward th...
Related Montana Property Valuation Questions
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