Property Valuation
Progression in real estate valuation means that:
AValues always increase in resort areas
BA lower-value property may benefit and increase in value from being surrounded by higher-value properties✓ Correct
CDepreciation decreases over time
DNew construction always appreciates
Explanation
The principle of progression holds that a lower-value property can increase in value when surrounded by higher-value properties — the modest home is 'lifted up' by its better-quality neighbors.
Related Vermont Property Valuation Questions
- A Vermont appraiser notes that a property is in a 'declining market.' How should this affect the appraisal?
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- Vermont's 'reappraisal year' refers to a municipality's periodic:
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