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MARKET DATA APPROACH <br />The Market Data Approach is a value estimate predicated upon <br />prices paid in actual market transactions and current listings, <br />the former fixing the lower limit of value in a static or advar.- <br />cing market (price -wise) and fixing the higher limit in P <br />declininn market; and the latter fixing the higher limit in any <br />market. <br />COST APPROACH <br />The Cost Approach estimates the value of the subject property <br />based on the current coat of replacing the improvement on today's <br />cost levels, less reasonable allowances for depreciation which <br />has taken place over the years, and includes land value and other <br />component parts of the property. The cost or constructing the <br />subject property is based primarily upon comparison with the cost <br />of constructing other similar types of buildings in the general <br />area. <br />ITJCf-N5C1�1 E� <br />