What is the total property value calculated from the building and land values?

To determine the total property value from the building and land values, you must add the individual values of the building and land together. If the combined value of both components equals 866,667, then that total represents the overall property value.

In assessing property values, accurate calculations are essential as they can significantly impact property taxes, investment decisions, and market analysis. Therefore, it is important to have a precise understanding of how to sum separate valuations.

The chosen answer reflects the accurate computation of both components, ensuring that the value assessment aligns with established property appraisal principles. Whether the values come from market studies, income methods, or cost approaches, the final total must encapsulate both the land and building aspects accurately.