Property Valuation
Which principle of value holds that value is created by the expectation of benefits to be received in the future?
APrinciple of substitution
BPrinciple of anticipation✓ Correct
CPrinciple of contribution
DPrinciple of conformity
Explanation
The principle of anticipation holds that value is based on the expected future benefits of ownership (income, appreciation, utility). Appraisers estimate present value by discounting expected future benefits.
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