Property Valuation
When an Oklahoma appraiser identifies an 'overimprovement' on a property, they are identifying:
AAn improvement that meets code requirements
BAn improvement whose cost significantly exceeds its contribution to value relative to the neighborhood✓ Correct
CAn improvement that is underinsured
DAn improvement that violates zoning
Explanation
An overimprovement (superadequacy) is an improvement whose cost exceeds its market value contribution — it's too much for the neighborhood or site. For example, a luxurious custom home built in a modest neighborhood may be an overimprovement.
Related Oklahoma Property Valuation Questions
- Functional obsolescence in real estate refers to a loss in value due to:
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