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Quantitative Appraisal Of Non-Irrigated Cropland In South Dakota, Shelby Riggs
Quantitative Appraisal Of Non-Irrigated Cropland In South Dakota, Shelby Riggs
Honors Theses
This appraisal attempts to remove subjectivity from the appraisal process and replace it with quantitative analysis of known data to generate a fair market value of the subject property. Two methods of appraisal were used, the income approach and the comparable sales approach. For the income approach, I used the average cash rent for the region, the current property taxes for the subject property, and a capitalization rate based on Stokes' (2018) capitalization rate formula to arrive at my income-based valuation. For the comparable sales approach, I utilized Stokes' (2018) research in optimization modeling to estimate a market value for …