In property assessment, what does "NOI" stand for?

In property assessment, "NOI" stands for Net Operating Income. This term is crucial in the real estate industry as it represents the total revenue generated from a property after deducting all necessary operating expenses. Operating expenses can include property management fees, maintenance, insurance, property taxes, and utilities, but do not include financing costs like mortgage payments.

Net Operating Income is a significant metric used by investors and lenders to evaluate the profitability and financial stability of an income-generating property. By assessing the NOI, stakeholders can make informed decisions regarding property investments, valuations, and potential income streams. Essentially, a higher NOI indicates a more profitable property, making it an essential figure in property assessments.

The other options do not accurately reflect standard terminology used within the context of property assessment, which is why they are not relevant to this query.