Why is my property valued at higher than the construction cost to build it?

Real property is valued at "Market Value" not construction cost. Market Value is the most probable price expressed in terms of money that a property would bring if exposed for sale in the open market in an arm`s length transaction between a willing seller and a willing buyer. In other words, if you were to list your property for sale on the open market, what would be your asking price in our real estate market?

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1. How is my property valued?
2. What is a Statement of Consideration?
3. Why is my property valued at higher than the construction cost to build it?
4. What is the ISO (Insurance Services Office) rating for the Town and County?