Property Valuation
In Wisconsin, the cost approach to valuation is MOST useful for:
AResidential properties with many comparables
BIncome-producing properties
CSpecial-use or unique properties with few comparables, such as schools or churches✓ Correct
DVacant land
Explanation
The cost approach is most useful for special-use properties (churches, schools, libraries) and newer properties where there are few comparables. It calculates value based on land value plus cost to build minus depreciation.
Related Wisconsin Property Valuation Questions
- A Wisconsin appraiser must be independent and have no undisclosed interest in the property being appraised because of the ethical requirement of:
- Which appraisal approach would a Wisconsin appraiser give the LEAST weight to when valuing a single-family home?
- The gross rent multiplier (GRM) method estimates value by:
- The principle of progression in property valuation states that:
- Accrued depreciation in a Wisconsin appraisal refers to:
- Regression in Wisconsin appraisal theory means a property's value is:
- An appraiser in Wisconsin adjusts a comparable sale price upward because the comparable has less square footage than the subject. This is a:
- Depreciation in the cost approach measures the loss in value from all causes. 'Curable' depreciation refers to items that:
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