Property Valuation
The principle of 'change' in property valuation recognizes that:
AProperty values are always stable
BReal estate values are constantly changing due to economic, social, governmental, and environmental forces✓ Correct
COnly inflation affects property values
DValues only change during recessions
Explanation
The principle of change acknowledges that all properties and neighborhoods are in a constant state of flux—passing through cycles of growth, stability, and decline due to various external forces.
Related Connecticut Property Valuation Questions
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