Property Valuation
The cost approach to value is most reliable for:
AOlder residential homes in established neighborhoods
BIncome-producing commercial properties
CUnique or special-use properties with few comparable sales✓ Correct
DVacant land parcels
Explanation
The cost approach is most reliable for unique or special-use properties (schools, churches, government buildings) where there are insufficient comparable sales and the income approach is not applicable.
Related Oklahoma Property Valuation Questions
- Oklahoma industrial properties have unique appraisal considerations because:
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- The principle of substitution states that:
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