Property Valuation
Functional obsolescence in an Alabama property refers to:
APhysical wear and tear on the structure
BLoss of value due to outdated or inadequate features within the property✓ Correct
CValue loss caused by external neighborhood factors
DDepreciation calculated for tax purposes
Explanation
Functional obsolescence is loss of value due to features within the property that are outdated, inadequate, or superfluous — such as only one bathroom in a 4-bedroom home, or an outmoded floor plan.
Related Alabama Property Valuation Questions
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