Property Valuation
Which of the following Oregon property types would MOST likely be appraised primarily using the cost approach?
AA 50-unit apartment complex in Portland
BA new elementary school recently built in Salem✓ Correct
CA 10-year-old single-family home in Eugene
DA downtown Bend retail strip center
Explanation
A new school (special-use property) is most appropriately appraised using the cost approach because there are few comparable sales and it is not an income-producing property. The cost approach estimates value based on land value plus the cost to reproduce the building less depreciation.
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