When using the cost approach to valuation,current market data for land values must be obtained.

Question

Quizplus · Accepted Answer

The cost approach to valuation involves estimating the cost of replacing or reproducing a property, taking into account depreciation and adding the value of the land. Therefore, current market data for land values must be obtained in order to accurately calculate the property's total value using this method.

When Using the Cost Approach to Valuation,current Market Data for Land