Property Valuation
In Oklahoma's rural areas, the land residual technique for valuing agricultural land separates:
AMineral values from surface values only
BThe value attributed to the land from the value attributed to improvements (buildings, irrigation systems), allowing the land component to be valued based on its contribution to agricultural productivity✓ Correct
CAnnual crop income from land value
DThe assessed value from the market value
Explanation
The land residual technique attributes the total property value to its components — land and improvements. After subtracting the value of buildings and improvements, the remainder represents the land's value.
Related Oklahoma Property Valuation Questions
- Plottage (assemblage) value in Oklahoma refers to:
- An Oklahoma appraiser's final opinion of value in an appraisal report is expressed as:
- The principle of 'substitution' is the foundation of all three appraisal approaches because it states:
- Effective age in real estate appraisal refers to:
- Paired sales analysis in Oklahoma appraisal is used to:
- An appraiser determines a subject property's value using the gross rent multiplier (GRM). The property rents for $1,800/month and comparable properties sell for 120 times monthly rent. The estimated value is:
- Functional obsolescence in an Oklahoma property refers to:
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