Property Valuation
The cost approach to value is most useful for appraising:
AIncome-producing apartments in urban areas
BVacant land only
CSpecial-use properties like schools or churches✓ Correct
DSingle-family homes in established neighborhoods
Explanation
The cost approach is most useful for unique or special-use properties (schools, churches, government buildings) where there are few comparable sales and no income stream. It estimates value as land value plus depreciated cost of improvements.
Related South Dakota Property Valuation Questions
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