Final answer:
In the narrative form of an appraisal report, the property value is typically stated in the 'Value' section.
Step-by-step explanation:
In the narrative form of an appraisal report, the property value is typically stated in the 'Value' section. This section provides an estimate of the market value of the property being appraised. It considers various factors such as location, condition, comparable sales, and market trends to arrive at a value.
For example, the appraiser may state the property value as $500,000, indicating that this is the estimated market value for the property in question.
It is important to note that the property value stated in the narrative appraisal report is based on the professional judgment and analysis of the appraiser.