Property Valuation
The 'principle of anticipation' in South Carolina real estate appraisal states that value is based on:
AThe property's historical cost
BThe present worth of future benefits✓ Correct
CThe current replacement cost
DThe most recent comparable sale
Explanation
The principle of anticipation holds that value is created by the expectation of future benefits. The income approach relies heavily on this principle, valuing properties based on projected future income.
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