Property Valuation
The principle of conformity in Iowa appraisal states that:
AAll properties must conform to local building codes
BMaximum value is created when a property conforms to surrounding properties in use, design, and style✓ Correct
CNonconforming uses always lose value
DLand must be used for its designated zoning purpose to have maximum value
Explanation
The principle of conformity states that property values are maximized when properties in a neighborhood are similar in use, design, and character. Deviation (over-improvement or under-improvement) can negatively affect value.
Related Iowa Property Valuation Questions
- A single-family home has comparable sales ranging from $195,000 to $215,000 after adjustments. The appraiser gives the most weight to the comparable most similar to the subject. The final estimated value is likely to be:
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