Property Valuation
When appraising a New Hampshire property, the appraiser must consider whether the property's current use is the highest and best use. If not, the appraiser must:
AAppraise it only at its current use value
BAppraise it based on the highest and best use, noting the difference from current use✓ Correct
CDecline to appraise the property
DRequire the owner to change the use before appraising
Explanation
If current use is not highest and best use, the appraiser should identify the highest and best use and may note the difference. The appraisal reflects the market value, which is based on highest and best use.
Related New Hampshire Property Valuation Questions
- An appraiser preparing a value for a NH 4-unit residential property would typically use the income approach as a primary method and the sales comparison approach as:
- An appraiser in Nashua, NH determines that the highest and best use of a commercial corner lot is a mixed retail/residential development rather than single-family residential. This conclusion:
- An appraiser in Concord, NH uses three comparable sales to estimate value. The sales are $310,000, $298,000, and $325,000 after adjustments. The appraiser's final value conclusion will:
- When appraising a New Hampshire lakefront property, the 'water frontage' (linear footage of shoreline) is typically:
- A NH appraiser finds that a subject property has a cracked foundation that would cost $30,000 to repair. In the cost approach, this would be treated as:
- A NH appraiser uses the 'direct capitalization' method for a commercial property. The steps are:
- In NH real estate, 'functional obsolescence' refers to a loss in value due to:
- The 'income capitalization approach' to value is most appropriate for:
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