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

question 4

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


Definitions:

Proportional

A relationship or ratio between two quantities where they change at the same rate.

Tax Rate

The proportion of income that a person or business must pay in taxes.

Digressive

Characteristics of a process or system that decreases in intensity or rate as it progresses.

Social Security (FICA) Tax

A mandatory payroll tax funded by both employers and employees to finance Social Security benefits.

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