§ 820 Property Valuation Basis

• •When figuring out how much a property is worth, you can look at the land's value plus the cost to rebuild any buildings or improvements on it.
• •The buildings or improvements must make the property more valuable for its best use.
• •You have to subtract any wear and tear or outdated features of the buildings or improvements.

You want to sell your house and need to figure out its value.

You can add the value of the land to the cost of rebuilding your house, but only if the house makes the property more valuable. Then, you subtract any damage or outdated parts of the house.