The adjustment in the property value should be $17,500 increase so that the property is valued at $367,500.
Value of property 10 months ago = $350,000
Increase in property values = 5%
Adjustment in property = $17,500 ($350,000 x 5%)
This is the change in the value of property as a result of an increase or decrease in the values of comparable properties within the locality.
Thus, the adjustment in the property value should be $17,500 increase so that the property is valued at $367,500.
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