Which of the following is a factor that could negatively impact a property's value?

High crime rates in the area can significantly negatively impact a property's value as they foster a perception of insecurity and risk among potential buyers. Properties located in neighborhoods with high crime statistics are often viewed less favorably, leading to decreased demand. Buyers tend to prefer locations with low crime rates for the safety and quality of life they offer. This perception can cause property values to drop as potential residents may look elsewhere, prioritizing safety.

In contrast, proximity to good schools is generally seen as a positive attribute, as families often want to live near reputable educational institutions. Recent renovations usually enhance a property's appeal, improving its value by updating features and aesthetics. Low tax rates are also attractive to buyers, as they can lead to lower ongoing costs of homeownership. Therefore, the presence of high crime rates stands out as a clear factor that can deter interest and diminish market value.