Property Valuation
In Wyoming, land value is typically determined using the:
ACost approach only
BSales comparison approach using comparable land sales✓ Correct
CIncome approach only
DAssessed value from the county
Explanation
Land value is most reliably estimated using the sales comparison approach, comparing the subject land to recent sales of similar, comparable land. This is true even in the cost approach, where land is valued separately from improvements (land is not depreciable).
Related Wyoming Property Valuation Questions
- Functional obsolescence in a Wyoming home might include:
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