Which appraisal principle affirms that land cannot be valued on the basis of one use while improvements are valued on the basis of another?

The appraisal principle that asserts land cannot be valued based on one use while improvements are valued based on a different use is known as the consistent use principle. This principle highlights the importance of ensuring that the valuation practices for both land and improvements align with the highest and best use of the property as a whole.

In practical terms, consistent use requires that the appraiser evaluates the property's value by considering the uses of both the land and any improvements in a coherent manner. For instance, if land is valued for agricultural purposes, but improvements are assessed based on their potential for commercial office use, this creates a disconnect that could lead to misleading valuations. By applying the consistent use principle, appraisers ensure that their analyses reflect an integrated view of the property’s highest and best use, leading to more accurate and reliable value conclusions.

The other options do not encapsulate this specific aspect of property valuation. Market value refers more generally to the price at which a property would sell in a competitive market, the income approach is a method of valuation based on the expected income generated by the property, and the investment principle relates to the notion that the value of a property is directly linked to its ability to generate income or appreciate in value over time. None of these principles focus specifically on the