Property Valuation
A Wyoming appraisal uses a 'cost-to-cure' approach for depreciation. This method is used when:
AThe property has no curable depreciation
BIt is economically feasible to repair or improve a depreciated item (curable depreciation)✓ Correct
CExternal obsolescence must be measured
DThe land value must be estimated
Explanation
Curable depreciation items are those where the cost to cure (repair or replace) is less than or equal to the value added by the repair. Curable physical deterioration (like replacing worn carpet) is estimated using the cost-to-cure method.
Related Wyoming Property Valuation Questions
- When appraising a Wyoming property, 'plottage' or 'assemblage' value refers to:
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