Property Valuation
The term 'as-improved' value means:
AThe value of land only
BThe value of the property including the existing improvements (buildings)✓ Correct
CThe projected future value after planned renovations
DThe replacement cost of improvements
Explanation
The as-improved value is the current market value of a property including all existing improvements (buildings, site improvements). It contrasts with as-vacant (land only) value used in highest and best use analysis.
Related Oklahoma Property Valuation Questions
- An Oklahoma appraiser who values agricultural land must consider which unique income source beyond typical residential factors?
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- Market value in real estate appraisal is defined as:
- Reproduction cost in the cost approach is:
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