What information is essential to compute square footage price in property appraisal?

To compute the square footage price in property appraisal, it is essential to consider the replacement cost new less depreciation in relation to the total square footage of the property. This method involves determining the cost to replace the property with a similar one, then subtracting any depreciation that has occurred due to factors such as physical wear, functional obsolescence, or economic impacts.

Using this approach provides an accurate reflection of the value per square foot by aligning it with the updated condition and utility of the property. By dividing the adjusted value (replacement cost minus depreciation) by the total square footage, appraisers can determine the price per square foot that accurately represents the property's value in the current market context.

While options like total acreage and sale price or land valuation and real estate trends provide useful market insights, they do not directly relate to calculating the cost-per-square-foot ratio needed for appraisal. They may be pertinent for broader market analysis but lack the specific calculation required for determining square footage price.