Property Valuation (alternative)
In Maryland, the principle of conformity holds that:
AAll properties should be valued the same regardless of size
BProperties reach maximum value when they are similar in design, use, and character to surrounding properties✓ Correct
CAny deviation from the norm increases value
DCommercial and residential uses should always be mixed
Explanation
The principle of conformity holds that property values are maximized when a property conforms to the general character of surrounding properties in use, design, and quality.
Related Maryland Property Valuation (alternative) Questions
- The principle of substitution in Maryland appraisal theory states that:
- The Maryland appraisal principle of 'anticipation' holds that value is created by:
- An appraiser using the cost approach for a new Maryland home that is exactly like the subject just built next door would likely give:
- When appraising a Maryland property, the highest and best use 'as if vacant' analysis asks:
- Maryland's assessment appeals process begins with a request for a hearing with:
- In Maryland appraisal, 'market conditions' adjustment to comparable sales reflects:
- When comparing sales in the same Maryland neighborhood, an appraiser should give the most weight to comparables that are:
- When appraising Maryland waterfront property, the premium over a non-waterfront comparable is:
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