Cost models in assessment typically follow the structure of what type of model?

Cost models in assessment typically follow the structure of hybrid models because these models integrate elements from various methodologies to capture the complexities of property valuation effectively. Hybrid models combine aspects of both the cost and market approaches to valuation, allowing assessors to leverage data and insights from different sources.

By utilizing a hybrid approach, assessors can account for both the intrinsic value of the property, based on replacement costs, and the market factors that influence property values. This makes hybrid models particularly suitable for accurate property assessment, as they can adapt to the unique characteristics of different properties and market conditions.

The other types of models listed, such as linear regression models, qualitative models, and point estimation models, do have distinct applications in assessment and valuation processes, but they do not encompass the comprehensive and adaptable nature that hybrid models offer. Linear regression models focus on statistical relationships, qualitative models depend on subjective judgments, and point estimation models provide a singular value assessment without the complexity of market dynamics or cost factors.