Property Valuation
Effective age of a building differs from actual (chronological) age because effective age:
AIs always less than actual age
BReflects the condition and utility of the building relative to similar properties✓ Correct
CIs determined by the building permit date
DIs set by the county assessor
Explanation
Effective age is based on the building's apparent condition and utility, which may be less than its actual age if well-maintained, or more if poorly maintained.
Related Alabama Property Valuation Questions
- In an appraisal using the cost approach, the term 'reproduction cost' means:
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