Cost ApproachThe cost approach is not typically used at realestate tax protest hearings except for new buildings. Inspect and photograph the comparable sales making detailed notes regarding differences between the comparable sales and your land. Then make adjustments for differences between the subject land and comparables. The Approaches to Establishing realestate ValueSales Comparison ApproachThe sales comparison approach is used at realestate tax hearings for houses, land and owner-occupied buildings. After applying appropriate adjustments to the assessment comparables, calculate the median level of assessment for the assessment comparables. Appraisal districts often use the [...]
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