Property Valuation
A Virginia appraiser uses the 'extraction method' to estimate land value. This involves:
ADrilling soil borings to assess the land
BSubtracting the depreciated value of improvements from the total sale price to isolate land value✓ Correct
CCapitalization of ground rent
DUsing tax assessment ratios
Explanation
The extraction (abstraction) method estimates land value by subtracting the depreciated cost of improvements from the comparable sale price, leaving the residual as an indicator of land value.
Related Virginia Property Valuation Questions
- When a Virginia appraiser adjusts a comparable for a superior or inferior feature, they adjust:
- In Virginia's Northern Virginia market, the most relevant comparables for a sales comparison appraisal should be located:
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