(7 1/2-hours of continuing education credit by the Department of Local Government Finance)
This course has two objectives. First, it is intended to provide students with a basic overview of the income approach so that they are comfortable with the mechanics of the overall process. Second, the students will calculate value for an income producing property using a process called income capitalization and the IRV formula. Knowing two of the three components of the IRV formula, students will be able to algebraically manipulate the formula in order to calculate the unknown value.