Property Valuation
In a Jackson Hole luxury property appraisal, the cost approach would estimate value as:
ALand value plus depreciated cost of improvements✓ Correct
BCapitalized net operating income
CAverage of three comparable sales
DThe assessed value times the assessment ratio
Explanation
The cost approach estimates value as land value plus the depreciated cost of improvements (replacement or reproduction cost minus accrued depreciation). It is useful for new construction or unique properties where comparable sales are limited, as is common with luxury Jackson Hole estates.
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