In mass appraisal, the structure of a gross income model is represented as?

In mass appraisal, the correct representation of a gross income model is identified as V = GI x GIM. This formula illustrates the value (V) of an income-producing property based on its gross income (GI) and the gross income multiplier (GIM).

The gross income is the total income generated by the property before any expenses are deducted, while the gross income multiplier serves as a valuation tool that indicates how many times the gross income is multiplied to arrive at the estimated value of the property. This relationship is crucial in mass appraisal because it simplifies the process of estimating property values across a large number of properties by standardizing income generation into a consistent multipliers.

In the context of other choices, while they may represent different appraisal or financial models, they do not directly align with the typical gross income approach used in mass appraisal. For instance, other formulas like NOI (Net Operating Income) might be utilized in different appraisal contexts but do not specifically define the gross income model in the way GIM does.