Property Valuation
In Ohio, an appraiser using the 'extraction method' to estimate land value is:
AExtracting mineral rights from a property
BSubtracting the depreciated value of improvements from the known sale price of a comparable property to derive the land value✓ Correct
CRemoving unusable land from the appraisal
DUsing the income approach to extract the capitalization rate
Explanation
The extraction method (abstraction) estimates land value by subtracting the depreciated value of improvements from a comparable property's sale price, leaving the implied land value.
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