Value Approaches

4. In ______, no deduction is made for property taxes since an allowance for property taxes is added to the capitalization rate.
7. This formula is calculated by dividing the NIBR by the sales price.
9. The cost to construct a property that is equivalent to the subject property in terms of utility (three words).
11. The _________ for a property that is owner-operated can be estimated based on a cash rental analysis, share rental analysis, or an owner-operator return analysis.
12. This type of rent provides the landowner with a stipulated share of the proceeds from the annual crop production.

1. _____ capitalization expresses value as a ratio between net income and a rate.
2. Allowed expenses paid by the _____ must be deducted from the gross income, whether based on share rent or cash ret, to arrive at the net income to be capitalized.
3. When deriving a rate, anticipated property taxes are ____ from the buyers anticipated income.
5. The most common unit of comparison in agricultural appraising is usually sales price per ______.
6. This formula is calculated by dividing the sales price by the anticipated gross income.
8. This type of capitalization considers the duration of the entire income stream and not just a single period.
10. This type of rent provides the landowner with a fixed payment from the tenant.