APPROACH TO VALUE Clause Samples

The "Approach to Value" clause defines the method or process by which the value of an asset, property, or item is determined within the context of an agreement. This clause typically specifies whether valuation will be based on market value, appraised value, replacement cost, or another standard, and may outline who is responsible for conducting the valuation and at what point in time it should occur. By clearly establishing the valuation methodology, this clause helps prevent disputes over worth and ensures both parties have a shared understanding of how value will be assessed for relevant transactions or obligations.
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APPROACH TO VALUE. Assessor shall assess all taxable real estate per market value, as established by professionally acceptable appraisal practices, except where otherwise provided by law. Assessor shall consider the sales comparison approach, the cost approach and the income approach in the valuation of all property.
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