Property Valuation
When comparable sales are limited in a New Mexico rural market, an appraiser may use which additional tool to support the value estimate?
ATax assessment value alone
BCost approach and income approach as corroborative methods✓ Correct
CThe listing price only
DBroker price opinions from neighboring states
Explanation
When comparable sales are scarce, appraisers may use the cost approach and/or income approach to corroborate or support their value conclusion, even if the sales comparison approach is primary.
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