Which calculation represents the sale price minus the land value?

The calculation that represents the sale price minus the land value is effectively the value attributed to the improvements on the property, often referred to as the building value. This is calculated by taking the total sale price of the property and subtracting the value of the land itself. This difference indicates the portion of the value that comes from the structure, improvements, and other enhancements rather than the land itself.

In the context of the provided answers, the correct choice indicates a concept similar to depreciation, as it reflects the remaining value of the improvements once land value is accounted for. This can relate to understanding how much the constructed or modified aspects of a property contribute to its overall market value.

Other options do not accurately represent the calculation in question; for example, the square footage price relates to the price per unit area rather than the difference between sale price and land value. The replacement cost new pertains to estimating the cost to replace the existing structures with a new equivalent, while the total sale price simply reflects the complete transaction value and does not provide insights into the components of that value.