Property Valuation
In New York, the 'cost to cure' method of measuring curable depreciation uses:
AThe market value decline caused by the deficiency✓ Correct
BThe actual cost to repair or remedy the curable depreciation item
CThe replacement cost of the entire building
DThe insured value of the structure
Explanation
The cost to cure method measures curable depreciation by estimating the actual cost to remedy the deficiency. The depreciation amount equals the cost to cure the item, provided that cost does not exceed the resulting increase in value.
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