Property Valuation
A Virginia property that is adjacent to a transit station may receive a premium because of enhanced accessibility and walkability. Appraisers call this:
ATransit tax credit
BA location value premium or transit-oriented development (TOD) premium✓ Correct
CA zoning bonus
DAn MLS upgrade
Explanation
Properties near transit stations in Northern Virginia and other Virginia metros often command a premium due to accessibility, walkability, and reduced transportation costs. Appraisers account for this in their location analysis.
People Also Study
Related Virginia Questions
- A Virginia property near a former gas station is found to have petroleum-contaminated soil. Under the Virginia Petroleum Storage Tank (PST) program, cleanup is administered by:Environmental
- A Virginia property owner wants to install a fence along the back 200 feet of their lot. The fence costs $28 per linear foot. What is the total cost?Real Estate Math
- A Virginia real estate licensee must disclose their license status when purchasing real estate for their own account. This requirement exists to:Virginia License Law
- A Virginia seller owes $180,000 on their mortgage. The home sells for $320,000. Selling costs are 7% of the sale price. What are the seller's net proceeds?Real Estate Math
- In Northern Virginia, the high-density residential and transit-oriented development around Metro stations is an example of which planning concept?Land Use & Zoning
- A Virginia property adjacent to a former gas station may have soil contamination from underground storage tanks. The most common contaminants are:Environmental
- When a Virginia seller is aware that their property sits adjacent to a former landfill that may be leaching contaminants, they should:Environmental
- A Virginia property owner wants to rezone their land near a major interchange for commercial development. The rezoning application must be consistent with the locality's:Land Use & Zoning
Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Study This Topic
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →