Property Valuation
Depreciation in the cost approach measures the loss in value from all causes. 'Curable' depreciation refers to items that:
ACannot be repaired
BCan be repaired at a cost that is economically justified (the repair adds more value than it costs)✓ Correct
CAre only related to physical deterioration
DRequire government action to correct
Explanation
Curable depreciation refers to items of physical deterioration or functional obsolescence that can be remedied at a cost equal to or less than the resulting increase in value — it makes economic sense to fix them.
Related Wisconsin Property Valuation Questions
- When reconciling values in a Wisconsin appraisal, the appraiser:
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- Which of the following best describes 'arm's-length transaction' in Wisconsin?
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- The principle of conformity in Wisconsin real estate states that:
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