The county assessor for Cuyahoga County has determined that a property located in the downtown area of Cleveland, which is currently being used as a storage facility, could be used as a casino and its revenue would be triple its current gross revenue. Suppose that the assessor used a computation for replacement of the storage facility if it were damaged. Which method of valuation is the assessor using?
A) Market approach
B) Income approach
C) Cost approach
D) Basis of the property approach
Correct Answer:
Verified
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