Property Valuation
The principle of conformity in Minnesota appraisal holds that:
AAll properties in a neighborhood must be the same size
BMaximum value is achieved when properties in an area are similar in use, style, and quality✓ Correct
CAll appraisals must conform to USPAP standards
DProperty values always conform to assessed values
Explanation
The principle of conformity states that a property achieves its maximum value when it is similar in use, style, and quality to surrounding properties. A commercial building in a residential neighborhood (or vice versa) may suffer from non-conformity, reducing its value due to lack of harmony with the neighborhood.
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