Appraisal by Summation, also known as the Cost Approach, is a real estate valuation method that determines the value of a property by adding the land value to the depreciated value of any improvements (such as buildings) made on it.
Betterment refers to an improvement made to a property that enhances its value, utility, or physical condition. This term is commonly used in the context of real estate to describe upgrades or modifications that increase the overall quality of the property.
Improvements refer to alterations made to raw land, such as the addition of buildings, streets, and sewage systems, which tend to increase the value of the property.
A structure refers to any constructed improvement to a site. This term encompasses a wide range of edifices such as buildings, fencing and enclosures, garages, gazebos, greenhouses, kiosks, sheds, and utility buildings.
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