Property Valuation
In New York, the 'principle of conformity' suggests that property values are maximized when:
ABuildings are unique and unlike their neighbors
BProperties conform to the general standards of the neighborhood in terms of land use, size, and style✓ Correct
CAll lots in an area are identical
DDevelopment follows government regulations strictly
Explanation
The principle of conformity holds that properties achieve maximum value when they are reasonably consistent with the surrounding neighborhood in terms of use, scale, and architectural style. Over-improvement or under-improvement relative to the neighborhood reduces value.
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