In the cost approach to valuation,land value can be estimated by comparing sales of vacant land that are similar to the subject land.

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This statement is true. The cost approach is one of the three main methods used to value real estate, and it involves estimating the cost to construct a similar property from scratch. The land value is a critical component of this approach, and it can be estimated by analyzing recent sales of vacant land in the area that are similar in terms of location, size, zoning, and other factors. This helps to establish a baseline value for the land before any improvements or buildings are constructed on it.

In the Cost Approach to Valuation,land Value Can Be Estimated