Property Valuation
An Ohio appraiser is using the cost approach. The land value is $60,000 and the depreciated value of improvements is $175,000. What is the estimated property value?
A$175,000
B$215,000
C$235,000✓ Correct
D$250,000
Explanation
In the cost approach, Property Value = Land Value + Depreciated Value of Improvements = $60,000 + $175,000 = $235,000.
Related Ohio Property Valuation Questions
- Which appraisal approach is considered MOST reliable for single-family homes in Ohio's active residential markets?
- In Ohio, the county auditor's assessed value is used to determine:
- The 'reproduction cost' in appraisal refers to the cost of:
- In Ohio, the principle of 'anticipation' states that value is influenced by:
- What does 'arm's-length transaction' mean in the context of Ohio comparable sales?
- The principle of 'regression' in real estate valuation states that:
- Which principle states that the value of an improvement is only worth the amount it adds to the total property value?
- Which type of value is most relevant for an Ohio property tax assessment?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →