Property Valuation
A Wyoming appraiser values a ranch property. The ranch has irrigation water rights as an appurtenant right. In the appraisal, water rights should be:
AIgnored as water is a public resource
BValued as part of the real property if they are appurtenant to and run with the land✓ Correct
CValued separately and excluded from the real property value
DValued only by the Wyoming State Engineer
Explanation
In Wyoming, appurtenant water rights that run with the land are part of the real property and should be included in the real property appraisal. The value of water rights can be significant for Wyoming ranch and agricultural properties. The appraiser should analyze the water rights as part of the overall property value.
Related Wyoming Property Valuation Questions
- A Wyoming residential appraisal using the sales comparison approach typically requires a minimum of:
- The principle of contribution in Wyoming real estate appraisal states that:
- In Wyoming, land value is typically determined using the:
- A Wyoming appraisal uses a 'cost-to-cure' approach for depreciation. This method is used when:
- Economic obsolescence (external obsolescence) in a Wyoming property may be caused by:
- When appraising a Wyoming property, 'plottage' or 'assemblage' value refers to:
- A Wyoming appraiser values ranch land by using comparable land sales. The subject property is 500 acres. Which approach is most appropriate?
- A Wyoming appraiser uses the GRM method. A rental cabin generates $1,800/month rent and similar properties sell at a GRM of 120. What is the indicated value?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →