Property Valuation
Depreciation in real estate appraisal refers to:
AA tax deduction for investment property
BA loss in value from any cause✓ Correct
CThe decline in land value over time
DOnly physical deterioration of a building
Explanation
In appraisal, depreciation refers to any loss in value from any cause, including physical deterioration, functional obsolescence, and external (economic) obsolescence.
Related South Dakota Property Valuation Questions
- The 'principle of substitution' in real estate valuation means:
- A South Dakota appraisal is performed for a federally related transaction. The appraiser must comply with:
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