Property Valuation
A Wyoming appraiser uses the cost approach. The formula is:
AValue = Land Value + Replacement Cost New − Accrued Depreciation✓ Correct
BValue = Net Operating Income ÷ Capitalization Rate
CValue = Gross Rent Multiplier × Monthly Rent
DValue = Sale Price of Comparable + Adjustments
Explanation
The cost approach formula is: Value = Land Value + Replacement (or Reproduction) Cost New − Accrued Depreciation. This approach is particularly useful for new construction, special-use properties, and insurance purposes.
Related Wyoming Property Valuation Questions
- When reconciling appraisal approaches in Wyoming, an appraiser gives the most weight to the approach that:
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