The assessor values real property using one or more of the following appraisal methods: Market or sales comparison value is determined or estimated based on multiple sales of similar properties.  Most residential property is valued using this method.  Cost approach value is determined based on the cost of replacing an existing structure with a similar one that serves the same purpose.  This method is used to value new construction.  Income value is determined based on the income producing potential of the property. This method is used primarily to value business property.