What is the term for the cost of constructing an identical structure?

The term "Reproduction" refers to the cost of constructing an identical structure as it would have originally been built, using the same materials, design, and craftsmanship. This concept emphasizes the aim to recreate the exact architectural and design features of the original structure, accounting for all historical aspects and characteristics.

In the context of property valuation, understanding reproduction costs is crucial, particularly for historical buildings or structures with specific architectural significance. It allows assessors to gauge the value of these structures based on their true original characteristics, which can differ significantly from modern standards or practices.

The other terms do not pertain specifically to constructing an identical structure. "Replacement" typically refers to building a similar structure using modern materials and techniques but not necessarily replicating the original design. "Reinstatement" often refers to restoring a structure to its previous state, generally after being damaged, and "Renovation" involves updating or improving a structure rather than duplicating it exactly.