Property Valuation
Which appraisal principle states that the value of a component part of a property is measured by its contribution to the overall value of the whole?
ASubstitution
BContribution✓ Correct
CConformity
DCompetition
Explanation
The principle of contribution measures the value of a component by the amount it adds to the total property value, not by its cost. A $30,000 pool may only add $15,000 in value.
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