Property Valuation
When an appraiser says a property has 'economic life remaining' of 20 years, it means:
AThe owner has 20 more years to pay the mortgage
BThe building has 20 more years of useful life before it is no longer economically viable✓ Correct
CThe property's value will double in 20 years
DThe property tax assessment will not change for 20 years
Explanation
Remaining economic life is the estimated number of years the building will continue to contribute to the property's value and remain economically viable.
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