In some properties, the value will not be captured entirely by the application of the Income Approach. A lump sum addition or deduction will be required. For example, a single property may encompass a hotel, a residence and a golf course. In this instance, the value of these other components can be estimated independently and added to the value of the golf course component to derive an overall market value for the property. The assessor should consider a number of potential sources of additional value before arriving at the final value of the golf course.
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